He cautioned however that these are the early signs and one should not start celebrating.
In terms of industries, 17 out of 23 industry groups in the manufacturing sector have shown negative growth.
India's economic growth slowed to 7 per cent in the three months through June from 7.5 per cent in the previous quarter
Retail inflation in March inched up to 8.31 per cent from 8.03 in February, mainly on account of a rise in fruit and vegetable prices.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
The greatest disconnect lies in the estimates of industrial growth.
Erasing early gains, the rupee on Thursday closed six paise lower at 53.22 due to sustained dollar demand after government estimates pegged ongoing fiscal's GDP growth at a decade low of five per cent.
India's economic growth rate this fiscal is estimated to be sharply lower at 5 per cent, lowest in a decade, on account of poor performance of manufacturing, agriculture and services sector.
Milk and its products too were less expensive with inflation print of 4.21 per cent, cereals and products at 2.10 per cent, meat & fish at 3.31 per cent while for eggs the prices grew at a slower pace of 8.51 per cent.
Items such as cereals and products, meat and fish, oils and fats became cheaper
This is mainly due to GST impact on manufacturing and subdued farm output.
In terms of industries, 22 out of 23 industry groups in the manufacturing sector showed positive growth during July 2018.
The rate of price rise in the vegetable segment almost doubled to 7.47 per cent as against 3.92 per cent in September.
India Inc said policymakers should take doable steps to revive fixed investments and production of capital goods
The government Rs 20 lakh crore package includes Rs 1.7 lakh crore of fiscal stimulus announced in the first phase, Rs 5.6 lakh crore stimulus provided through various monetary policy measures and Rs 5.94 lakh crore through the second phase, implying Rs 6.70 lakh crore package is still to be announced.
Top Sensex gainers include Hero MotoCorp, Bajaj Auto, Asian Paints, IndusInd Bank, HUL, and Maruti, rallying up to 5.87 per cent. While, ICICI Bank, NTPC and ITC slipped up to 0.13 per cent.
In terms of industries, 16 out of 23 industry groups in the manufacturing sector have shown positive growth during December 2017 as compared to the same month year ago.
The change in the baseline for IIP and WPI, currently at 2004-05, is expected to bring in more accuracy in mapping the level of economic activity and calculating other numbers like national accounts.
The NSE index Nifty ended above the 10,500-mark.
The panel noted that the macro-economic fundamentals of the economy are sound but challenges remain, several of which are structural in nature.
Reflecting general rise in living standard, India's per capita income is estimated to grow above Rs 60,000 per annum or over Rs 5,000 per month, said the government data.
The Indian economy will grow by 6.9 per cent in 2011-12 against 8.4 per cent in the last financial year according to government estimates.
Reflecting growing prosperity, India's per capita income grew by 15.6 per cent to Rs 53,331 per annum in 2010-11, crossing the half-a-lakh rupees mark for the first time, according to government data.
Reflecting growing prosperity, India's per capita income grew by 15.6 per cent to Rs 53,331 per annum in 2010-11, crossing the half-a-lakh rupees mark for the first time, according to government data.
Retail inflation inches up to 3.77%; IIP growth dips to 3-month low
RBI Governor Raghuram Rajan has noted the contradiction.
The previous low at 1.8 per cent was recorded in October 2017.
Govt has drawn list of PSUs for strategic sale: Jaitley
Capital goods output rose by a robust 20 per cent in the month under review as against a contraction of 2.4 per cent earlier.
The estimates of national income and growth do not pass the 'smell test'.
Even the Central Statistical Office has started using GDP as the main measure of economic activities since January 15 this year
Crisil Research expects retail inflation to rise 60 basis points to 4 per cent this fiscal from 3.4 per cent in 2018-19.
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
Restore macro economic stability
India's GDP is estimated to contract by a record 7.7 per cent during 2020-21 as the COVID-19 pandemic severely hit the key manufacturing and services segments, as per government projections released on Thursday. Amid overall decline in economic activities, some respite was provided by the agriculture sector and utility services like power and gas supply, which have been projected to post positive growth during the current fiscal ending March 2021.
The government response was key in overcoming the recent financial crisis, but the time is now ripe for credible fiscal consolidation.
Driven by high growth of 8.9 per cent of the manufacturing sector, the economic growth in the current fiscal is likely to be 7.2 per cent, the CSO said in its advance estimates for the national income released on Monday.
Projecting acceleration in India's GDP growth to 9% for FY 2011-012, Economic Advisory Council to Prime Minister seeks measure to address serious supply bottlenecks.
Agriculture and allied activities are likely to grow at 5.4 per cent in 2010-11, compared to just 0.4 per cent in 2009-10, according to Advance Estimates released by the Central Statistical Organisation on Monday.
Air India Board is likely to approve the appointments in four key managerial positions, which would put an extra annual burden of over Rs 4 crore (Rs 40 million).
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