GDP growth rate a reflection of government's efforts: Bibek Debroy

Even as India`s GDP growth rate declined to 7.1 per cent during the second quarter of 2018-19, from 8.2 per cent in Q1, Prime Minister`s Economic Advisory Council (EAC-PM) Chairman Bibek Debroy on Friday called it a "positive trend" over the last fiscal, which he said reflected the governments "successful" policy efforts in maintaining a stable domestic environment despite global uncertainties.

He said the GDP estimates represented a sizable jump from last year`s Q2 growth rate estimates of 6.3 per cent, indicating sustained acceleration in India`s economic growth.  "The government`s focus on simplifying India`s business and investment ecosystem, complemented by its initiatives to make growth more equitable and inclusive, has greatly improved India`s economic health in the recent past," a statement from his office said.

Debroy added that despite international trade tensions and volatile crude oil prices, India`s strong economic fundamentals continued to provide the much-needed thrust for it to be a major global driver of economic growth. 

"The robust growth rates in sectors such as manufacturing and construction show that the growth momentum continues to be broad based," he said.