Manufacturing pulls down GDP growth to 5.7% in Q1

Fri, Sep 01 2017, 12:26 PM

India’s economy grew at a slower rate of 5.7% in the first quarter of 2017-18, against 7.9% in Q1 of 2016-17. The main culprit was manufacturing, which expanded at just 1.2% in the quarter compared to 10.7%, as companies trimmed production and dealers offered discounts on select items leading up to the switchover to the goods and services tax (GST) from July 1.