At 8.2%, GDP grows at its quickest pace in two years

From the expenditure side, the composition of GDP remained broadly the same during Q1 2019 and Q1 2018, with private consumption accounting for 55% of the total GDP.

Pronab Sen, India’s former chief statistician, described the GDP numbers as being on expected lines. While this shows a continuing process of economic recovery, the presence of base effect calls for caution in declaring that India has placed itself in a trajectory of 8% plus growth, he said. While impressive growth performance in agriculture and construction is a welcome trend given the high labour intensity of these sectors, services recording a lower than average growth is an important development, Sen added. As tailwinds from a favourable base effect weaken from the next quarter onwards, GDP growth is expected to come down slightly, he said.

In response to a question on whether acceleration in economic growth will increase the probability of a rate hike by the Reserve Bank of India in the near future, Sen pointed out that while headline inflation numbers show that inflation is within acceptable limits, GDP deflator has grown by more than 6% between Q1 2018 and Q1 2019. This shows that inflationary pressures might be stronger than what is captured by the benchmark index, Sen added. Sabha than any other state, making it a crucial battleground for the parliamentary elections due next year. In the last general elections, the BJP won 71 of these as it went on to clinch a historic majority.

According to political analysts, the split could have hurt the SP. “Shivpal’s morcha will impact SP’S position in the proposed Mahagathbandhan (grand alliance) In Uttar Pradesh. Shivpal has very good organisational skills as he had worked very closely with SP patriarch Mulayam Singh Yadav for a very long time. Many leaders who are not happy in the SP may side with Shivpal,”said prof Kaushal Kishor Mishra, who teaches political science at Banaras Hindu University.

Shivpal, Mishra explained, had a good rapport with SP leaders across Eastern UP, a region where the party was strong till 2017. “Without that, the BSP could assume a bigger role over SP in the proposed alliance,” he said. looking at setting up a Bimstec Development Fund with voluntary contributions from member states. The fund will be used for research, planning and financing of projects, programmes and other activities of Bimstec centres and entities as agreed on by member states, the declaration said.

Sri Lanka is the next chair of the grouping. On the sidelines of the summit, Prime Minister Narendra Modi held meetings on Friday with his Nepalese counterpart, KP Sharma Oli, Myanmar President, Win Myint, Thailand Prime Minister, Prayuth Chan-ocha, and the chief adviser of Bhutan’s interim government, Dasho Tshering Wangchuk.

The pilot thereafter flew the aircraft manually and got in touch with Hubbali ATC at around 70 nautical miles and landed at 11.33am.