Economic growth rate reached the lowest level of the Modi government's tenure

During the last business year i.e., 2016-17, the growth was 7.1 percent. Now there are mainly two reasons for deficiency, one farmyard and another manufacturing. The growth rate of both of them is likely to be lower than last year.

New Delhi: There is bad news for Modi government before Anna's budget. The current fiscal year ending March 31, 2017-18, the growth rate is estimated to be 6.5 percent. This is the lowest level of four years, i.e. the lowest growth rate during the tenure of the Modi government.

During the last business year i.e., 2016-17, the growth was 7.1 percent. Now there are mainly two reasons for deficiency, one farmyard and another manufacturing. The growth rate of both of them is likely to be lower than last year. Although statistics secretary TCA Infinity believes that the bad phase of development is going to end. For some reason, the situation has improved in the second quarter (July-September) after the record decline during the first quarter (April-June) and now the remaining two quarters of the current business year (October-December and January-March) The growth rate is estimated to be seven percent.

Farming of Bari
Anant is also to say that even though the growth rate of farming turn has decreased, but infinitely believe that overall yield is showing improvement. Official statistics show that during the year 2014-15, 252.02 million tonnes of foodgrain was produced, which increased to 251.57 million tonnes next year and then 275.68 million tonnes in 2016-17. Production is now estimated to reach 280 million tonnes in 2017-18.

On the other hand, the opinions of the experts are different. They say that the production of kharif (mainly rice i.e. rice) crops is low, the same sowing of Rabi is less than last year. Not only this, after the subsequent monsoon, weak rainfall and decreased water levels in reservoirs had some impact on the crops. So, the whole year's data does not seem to be fast enough. Overall, in the business year 2017-18, the growth rate of farming turn is estimated to be 2.1 percent, whereas in 2016-17 it was 4.9 percent.

Manufacturing, on the
other hand, as far as manufacturing is concerned, the decline is getting much sharper. Estimates of manufacturing growth at 4.6 percent in this business year, compared to 7.9 in 2016-17. It is a matter of note that during the first six months of the business year (April-September), there was a sharp decline in manufacturing, while the situation seems to be getting better during the second half (October-March). In the first half, the impact of GST on goods and services tax, but as the new tax system is stable, its format will be seen on GSAT. For some reason, there has been a sharp increase in the Purchasing Manager Index (PMI) in the month of December.

The position of manufacturing is also pointing to the lack of employment opportunities. It is common for at least four people to get indirect employment if a person gets direct employment in the manufacturing sector. As the pace of industrial production slowed down in the first six months, its impact has also been seen in the new opportunities for employment, but now this situation seems to improve.

Services
At present, the situation seems to be improving in the service sector. During the last business year, the service sector growth rate was 7.7 per cent, while in this business year it is estimated to be 8.3 per cent. The service sector is the largest sector of the economy and its share is more than 57 percent.