"Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 stand at Rs 131.80 lakh crore and Rs 122.98 lakh crore, respectively, showing growth of 7.2 per cent during 2017-18 and 8.2 per cent during 2016-17," the Central Statistics Office (CSO) informed.
"This robust performance was partly attributable to a powerful base effect, with GDP growth dampened in 2Q17 (April-June) by companies de-stocking ahead of the rollout of the goods and services tax," Fitch said.
"India's rising economic fortunes mean better prospects for the common man, who will now have more means and opportunities to realise his or her dreams. New India, under PM Modi's leadership, is now empowered more than ever," Shah tweeted.
Taking a dig at the critics of the government, Jaitley said that India's GDP has not declined by 2 per cent on account of demonetisation and GST implementation, nor will it India live in poverty as predicted by former finance minister.
"A day after demonetisation was announced, I had said in Parliament that it would lead to a cut in the growth rate by 1.5 per cent," Chidambaram recalled. While the GDP growth rate was 8.2 per cent in 2015-16, it was 6.7 per cent in 2017-18.
In this edition of the Idea Exchange, Former Chief Economic Adviser Arvind Subramanian talks about demonitisation, defends GST, explains the reasons why growth has not been robust and reflects back on his tenure as Chief Economic Adviser of India.