GDP grows at 5-quarter high of 7.2% in Oct-Dec
- The government revised its 2017-18 GDP growth forecast to 6.6 per cent from 6.5 per cent earlier
- The latest GDP data signals that the economy in the reporting quarter grew at its fastest pace in the current fiscal year
NEW DELHI: The Indian economy grew 7.2% in the October-December quarter of 2017-18, the fastest growth in five quarters, helped by a rebound in the farm, manufacturing and services sectors, shrugging off the impact of demonetization and rollout issues linked to Goods and Services Tax (GST).
The third quarter growth reflects the improvement in the economy, which was earlier flagged by car sales and factory output, and comes as a booster for the government which is battling criticism over the Rs 12,600-crore fraud in Punjab National Bank. The 7.2% growth also helps India regain the tag of the fastestgrowing major economy in the world, overtaking China.
Data released by the Central Statistics Office (CSO) on Wednesday showed that the economy is now expected to grow 6.6% in 2017-18, up from the previous estimate of 6.5%.
Economists said faster growth will be sustained in the months ahead, reiterating the view that a majority of multilateral agencies have about growth accelerating in Asia's third-largest economy as it emerges from the effects of demonetization and GST implementation issues.
Samir Patel542 Samir-Mumbai-3 hours ago
The doubters will always crib.... they don't see the obvious for obvious reasons.
Sudarshan Nindrajog15173 Sudarshan Nindrajog-3 hours ago
Economy though growing as we expected but we have to check frauds donot happen.the banking system needs scrutiny
ExSecular 5301 ExSecular -streets-2 hours ago
Slowly this will further our growth more.
Hemeswari Bhuyan Hemeswari Bhuyan-Sonapur-2 hours ago
It is a remarkable and respectful following the major Economic Reforms. We were always in favour of Reforms, but the Economic Scholars like like earlier PM&FM make confusion by predictions of scholar''s view.
Logical Indian3632 Logical Indian-3 hours ago
there is word for people like you.... PESSIMIST!
Aum Shanti12424 Aum Shanti-3 hours ago
YES IT IS GOOD , NOT GOOD ENOUGH WORK HARD LIKE MODIJI USE RESOURCES CAREFULLY FARM WITHOUT CHEMICAL FERTILIZERS AND PESTICIDE INDUSTRIES WHICH POLLUTES WATERS TAKE STRICT ACTIONS AND HELP THEM HOW TO KEEP INDUSTRY WITHOUT POLLUTING ENVIRONMENT AND WATER INDIA CAN ACHIEVE MUCH MORE IN FUTURE , HAVE FAITH IN MODIJI LET HIM WORK AND PEOPLE OF INDIA HELP HIM TO TAKE INDIA TO HIGHER LEVEL
Ajay Varma967 Ajay-39 mins ago
Modiji's government is doing a remarkable job for the growth of GDP,but these lowlife taxchors blind worshipers of Pappu who don't know ABC of economy have started cribbing
Secular India8813 Secular-1 hour ago
Election Jumla, Fake news ! Modi' s already looted India what is left to show GDP growth ?
Teddy Wang2336 Teddy Wang-2 hours ago
7,2%? What a shame, it should be more than 10%! It seems somebody should change the GDP calculation method again. It is a game of figures what India is best.
Sarang Shah1596 Sarang Shah-1 hour ago
Our desire from Modi government is to have GDP growth in double digits .