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What is key to reviving GDP growth in India? All you want to know

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Most commentators have explained the big loss in economic momentum in the April-June quarter by talking of the pre-GST destocking, as also the lagged effects of demonetisation; GDP growth in Q1FY18 came in at a three-year low of 5.7% y-o-y, driven down by manufacturing which clocked a frightening five-year low of 1.2% y-o-y. With the GST impact likely to be over with re-stocking taking place in the current quarter, most are looking at growth picking up over the next few quarters. Crisil, for instance, is looking at GDP growth of 7% in FY18 as compared to 7.1% in FY17, with manufacturing growth at a healthy 7.6% in FY18, though lower than FY17’s 7.9%. Agriculture, in this scheme of things, is projected to grow at 3% in FY18 as compared to 4.9% in FY17—the high base, however, means even a 3% growth is quite good.

What is worrying, however, is the collapse in agriculture GVA in........

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