But this did not prevent GDP growth, at 6.7% in 2017-18, from falling to its lowest rate in four years.
India's gross domestic product grew by 7.7% in the quarter ended March, the government said Thursday.
"So manufacturing at 9.1 per cent and construction at 11.5 per cent indicate a turnaround in the economy which going forward would also give a big momentum to growth", he said.
Asked about recent GDP growth downgrading by Moody's from 7.5 per cent to 7.3 per cent, he said the government would not revise GDP estimate of FY19, which is at 7.5 per cent. "Overall, we expect GDP growth to remain strong at 7.8% y-o-y in Q2, before slowing to an average of 7.1% in H2 2018".
The GDP growth during the third quarter of the fiscal was at 7 per cent. "GDP growth has been increasing continuously every quarter with growth of 7.7 per cent in Q4 of 2017-18".
For oil-importing India, the combination of a weaker currency and surging oil prices is a threat not only for the current-account deficit, but also inflation. The pickup in growth surely offers a boost to prime minister Narandra Modi, who will be seeking a second term next year.
The growth in the "agriculture, forestry and fishing", "mining & quarrying", "manufacturing", "construction", and "financial, real estate and professional services" is estimated to be 3.4 per cent, 2.9 per cent, 5.7 per cent, 5.7 per cent and 6.6 per cent, respectively, the statement said.
GVA includes taxes but excludes subsidies. "The growth is likely to realise from pick-up in consumption, especially rural consumption, with the forecast of normal monsoon, increased public sector spending and uptick in performance of the manufacturing sector in coming quarters".
"Seems like we have moved beyond the teething troubles related to GST implementation", said Tushar Arora, a senior economist at HDFC Bank. Healthy topline and bottomline growth in the corporate sector, as well as buoyant cement and steel output point to an upturn in the business cycle. Capacity utilisation remains at 75 per cent, an indication that investment activity has picked up but not across sectors.
DOWNSIDE RISKS: The recovery could be threatened by higher global crude oil prices, which this month hit $80 a barrel, their highest since 2014.
With the release of the latest figures, the country has again retained fastest-growing economy tag once again in the January-March quarter.
The gross value addition (GVA) for the January-March quarter expanded at 7.6 per cent from from 6 per cent a year ago, data showed.
In the second track on the album, Kanye raps: " Russell Simmons wanna pray for me too/Wanna pray for him 'cause he got MeToo'd". Pusha T , Jonah Hill and Big Sean gathered around bonfires to hear West's first album since 2016's " The Life of Pablo ".
Eifel Zoo has nearly 400 animals of 60 exotic and native species, including lions, tigers, and other big cats on its 30-acre site. The caution has come even though the escaped animals are still believed to be on the grounds of the zoo.
Serena won 82 percent of her total service points despite struggling with her second serve, and she had just 25 unforced errors. The last time she had been spotted on a court was in a first-round loss to Naomi Osaka in Miami in March.
The White House has planned to send Wilbur Ross, the commerce secretary, to China on June 2 to continue the trade negotiations. That deal was separate from the U.S. investigation into China's alleged theft of intellectual property.
The fall in prices of oil for drivers has been welcome news as it has been for companies that purchase large amounts of energy. It is normal to have short-term blips in oil prices, which are driven by fear rather than fundamentals, Slaughter said.
He also became the sixth player to ever make 300 3s in the postseason, joining Curry as the Warriors to reach the feat. Curry, who has a history of ankle injuries , chipped in with his own thoughts: "You should have asked me", he noted.
The FBI is still working to access two blackberries, as well as going through the contents of a shredding machine, lawyers said. Wood also noted that Avenatti could potentially affect whether or not Cohen is given a fair trial if the case ever gets far.
The Tel Aviv regime said its assault came in response to a barrage of rocket and mortar rounds fired at the occupied territories. Rockets fired by Palestinian militants are seen over the Gaza Strip heading toward Israel, early Wednesday, May 30, 2018.
The NBA has fined Tristan Thompson $25,000 for his involvement in the skirmish in Game 1 of the NBA Finals, the league announced. Kevin Love has every reason to be perturbed, considering the ruling nearly matches word for word his description of the play.
The impact of the sanctions prompted a personal plea from Chinese Premier Xi Jinping for Trump to step in. The White House also says the United States is planning new investment restrictions and export controls.
The lowest field goal percentage and a drastically lower 3-point percentage for their opponents both occur in the third quarter. The Cavaliers, meanwhile, were +250 underdogs past year , far less extreme than their +650 line this time around.
In a network there were new photos of iPhone SE 2
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Spanish PM faces defeat in no-confidence motion
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Conservative pundit Dinesh D'Souza is pardoned by Trump
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However, Smith inexplicably took the rebound back towards half-court instead of attempting the potential game-winning basket. You remember the 1993 NCAA Final Four game when Michigan's Webber called timeout with 11 seconds left down 73-71.