Economic downturn has ended, more growth in 2 quarters: Niti

Thursday 28th September, 2017

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Economic downturn has ended,
more growth in 2 quarters: Niti
Niti Aayog vice that downward cycle in my view has
chairman Rajiv bottomed out.
Kumar yesterday "We will be achieving higher growth
said the economic in the next two quarters, and I think
downturn which 2018-19 will be much better than the
began in the last two current year (in terms of economic
years of UPA II growth)," he said at the AIMA dia-
regime has bottomed mond jubilee convention here,
out and the growth India's economic growth has
will improve in the slipped to a three-year low of 5.7% in
next two quarters. the first quarter of the current fiscal.
Kumar also admitted that there The Niti Aayog vice chairman also
have been problems on account of de- pointed out that in manufacturing and
monetisation and Goods and Services services PMI, the lowest point reached
Tax (GST) implementation but now in July and therefrom it has started ris-
people have adopted to the new tax ing. Kumar noted that historically
regime. countries which have adopted GST
"...This downward cycle of eco- have all seen some decline in the
nomic growth began in the last two growth rate because the system strug-
years of the UPA II government and gles to come to new norm.