GDP growth of 6.3% is an answer to critics of demonetisation, says Maharashtra CM Devendra Fadnavis

Mumbai: Hailing the rise in GDP growth rate to 6.3 percent in the July-September period of 2017, Maharashtra chief minister Devendra Fadnavis on Thursday said the figures are an answer to the Opposition parties who had criticised demonetisation and GST.

“The GDP growth of 6.3 percent shows that the economy is improving in (Prime Minister Narendra) Modi ji’s rule and he is taking the country to newer heights,” Fadnavis said in a video message.

“These figures are an answer to those who opposed and portrayed that demonetisation and GST were wrong decisions which will lead to a slump in the economy,” he added.

Fadnavis said the country has climbed 30 places in World Bank’s ’ease of doing business’ index while the ratings agency Moody’s has upgraded the country after a gap of 14 years under Modi government.

“The exceptional numbers of our economic growth rate, coming at a time when there is barely any growth worldwide, validates Modi ji and his team’s leadership. I congratulate Modi ji on the reforms agenda adopted by him,” he said.

Reversing the five quarters of slowing GDP growth, Indian economy expanded by 6.3 percent in July-September on the back of a pick-up in manufacturing.

The gross domestic product (GDP) growth had hit a three-year low of 5.7 percent in the first quarter of 2017-18. It was 7.5 percent in the September quarter of 2016-17.