September 01, 2017: Finance Minster Arun Jaitley has said, the 5 point 7 percent GDP growth rate in first quarter of this fiscal is a matter of concern and it throws up challenge to the economy. He said the rate has come down predominantly due to pre- GST effect as manufacturers were focusing more on clearing the existing stock.
Talking to media in New Delhi, Mr. Jaitley said, the service sector and investment have improved in this quarter but down trend in manufacturing is essentially a GST impact. He said in the coming quarter, the government requires to work both in terms of policy and investment to improve the growth rate. (AIR News)