Former Prime Minister Manmohan Singh today welcomed the uptick in the GDP growth at 6.3 per cent, but said, at this rate it is not possible for the NDA government to equal UPA government's 10-year average growth rate. <br/><br/>He said, it is too early to conclude that this represents a reversal of the declining trend seen in the previous five quarters.<br/><br/>Addressing a gathering of businessmen in gujarat's Surat, Mr Singh said, it is believed that the impact of demonetisation and GST has not been adequately captured on the informal sector that accounts for about 30 per cent of the economy.<br/><br/>Mr Manmohan Singh added that even if the growth reaches 6.7 per cent in the current fiscal, the four-year average growth rate will still be only 7.1 per cent. He claimed that the economy will have to grow at 10.6 per cent in the fifth year to equal the UPA's 10-year average. <br/><br/>
News On AIR | December 2, 2017 8:26 PM
Former PM Manmohan Singh welcomes uptick in GDP growth at 6.3%