Finance Ministry: Salient Features Emerging from Quarterly Estimates of GDP for Q1 of 2016-17 Released by CSO; Lower growth in Q1 of 2016-17, compared to Q1 of 2015-16 is attributable among others to increase in subsidies by 53 per cent which has resulted in lower growth of net indirect taxes https://www.taxtmi.com/news?id=16572 GDP growth in Q1 2016-17 is estimated at 7.1 per cent, lower than Q1 2015-16, primarily due to a 53 per cent increase in subsidies that reduced net indirect tax growth and a contraction in gross fixed capital formation; governmental final consumption rose sharply, private consumption remained steady, exports recovered while imports contracted, manufacturing expanded but mining, quarrying and construction weakened, and services strengthened led by public administration and financial services. en-us Thu, 01 Sep 2016 11:10:35 +0530 Thu, 01 Sep 2016 11:10:35 +0530 TaxTMI RSS Generator Finance Ministry: Salient Features Emerging from Quarterly Estimates of GDP for Q1 of 2016-17 Released by CSO; Lower growth in Q1 of 2016-17, compared to Q1 of 2015-16 is attributable among others to increase in subsidies by 53 per cent which has resulted in lower growth of net indirect taxes https://www.taxtmi.com/news?id=16572 GDP growth in Q1 2016-17 is estimated at 7.1 per cent, lower than Q1 2015-16, primarily due to a 53 per cent increase in subsidies that reduced net indirect tax growth and a contraction in gross fixed capital formation; governmental final consumption rose sharply, private consumption remained steady, exports recovered while imports contracted, manufacturing expanded but mining, quarrying and construction weakened, and services strengthened led by public administration and financial services. News - Thu, 01 Sep 2016 11:10:35 +0530 https://www.taxtmi.com/news?id=16572