GDP Growth Beats Expectations: Economy Grows At 7.7 Per Cent In Q4 Of FY18vGrowth rate through the quarters in FY18. (pic via amitmalviya/Twitter)

India’s GDP growth for the quarter ending March has beaten all expectations, with the economy growing at a robust 7.7 per cent for the last quarter of FY18.

This is much higher than China’s GDP growth of 6.8 per cent for the same quarter with the Indian economy hence retaining the ‘fastest growing large economy’ tag for two second subsequent quarters.

The growth has reportedly beaten industry expectations with a Bloomberg survey of 38 economists predicting a rate of 7.4 per cent for the quarter.

With the numbers for the last quarter in place, the full year growth now stands at 6.7 per cent, lower than the previous year’s 7.1 per cent. The lower rate is attributed to Q1 and Q2 growth rates that were affected by teething troubles for the GST regime and after-effects of demonetisation.

However, the high growth rates indicate that the troubles might be over in what would be excellent news for Prime Minister Narendra Modi as the country goes to polls in 2019.

The rapid growth in manufacturing sector at 9.1 per cent and in the construction sector at 11.5 per cent are being attributed for the high growth overall.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement