The government said a roundtable discussion was held for estimating back series of GDP, wherein analytical information was sought and a follow-up discussion will be held shortly.
The subdued numbers are despite the onset of festival season, which was expected to push up factory output growth, especially of consumer durables.
Countering the criticism over the implementation of the tax reform, Arun Jaitley said, "GST slowed down growth for two quarters, but people overlook how growth rose after that."
India as a source market is estimated to be around 1.70 lakh guests currently for cruise tourism, against China's 2.7 million.
The government and the central bank, however, have done the right thing by just managing rupee volatility instead of turning extra aggressive in their defence of the domestic currency.
"The two successive shocks of demonetisation and the GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking up," Rajan said.
The Finance Ministry has so far maintained silence on the issue, but Garg’s tweet Friday suggests that the government is looking to build bridges in its relations with the RBI.
The last time non-food credit grew faster was in December 2013, when it clocked 14.9 per cent during the fortnight ended December 13.
Active companies are those carrying out normal business activities and make their statutory filings to the stock exchanges on time.
The advisory comes in the wake of discrepancies being found by the GST authorities in the refund applications filed by diplomatic missions and embassies and the details in the invoices of their purchases.
The repo rate — the rate at which the RBI lends to the system — will continue to be at 6.50 per cent. Going forward, the central bank is expected to raise rates.
The RBI data shows that loans by NBFCs to MSMEs grew at an annual average rate of 35 per cent during the last five years. However, the current liquidity squeeze that the NBFCs are going through, has reduced the credit flow to the MSME sector.
Most consumer–centric companies continue to face top line pressures.
In July 2017-March 2018, DGGSTI had recovered Rs 235 crore which was about 27 per cent recovery from detection of Rs 878 crore in 176 cases.
While the rupee clocked its biggest intra-day gain of more than 100 paise or 1.37 per cent against the US dollar in over last five years, the benchmark indices at BSE and NSE jumped nearly 1.7 per cent.
The Nikkei India Manufacturing Purchasing Managers’ Index strengthened from 52.2 in September to 53.1 in October as new orders and production increased at the quickest rate in four months.
The GST collections in October stood at Rs 1,00,710 crore, the second time in the current financial year after April when the monthly GST collections topped the targeted Rs 1-lakh crore mark.
Modi will launch the MSME support and outreach programme, which will run for 100 days covering 100 districts throughout the country.
Once such a special window is opened, the RBI will have to provide liquidity to all companies approaching the central bank for funds.
However, compared to last year, India saw its ranking dip on various other parameters, such as “registering property”, “protecting minority investors”, “paying taxes” and “resolving insolvency”.