Home » LATEST » GDP Growth Rises: India Earned “Fastest Growing Economy” Tag from China
LATEST

GDP Growth Rises: India Earned “Fastest Growing Economy” Tag from China

indian-gdp
image/google

The Indian Economy again comes up on track with it’s GDP growth rise of 7.2%, this report is coming from the Central Statistical Office for 2017-18 December quarter (Q3), growth is fastest in the last five quarters.

This is really a magical recovery if we see it from the view of our country’s economy and this happened because of the investment demand with the registration of 12% growth.

When we look at Q3 data, the growth of the complete year’s has been revised upwards with a noticeable growth of 6.6%, if this growth rate keeps running like this then it is expected that Indian economy will grow by the end of March up to $2.6 trillion, which is very massive from the perspective of Indian economy.

These positive growth changes in the economy clearly show that Indian economy is recovering from the high-value tides of demonetization and goods & services tax but now no need to worry as data of latest quarterly corporate earnings suggests that consumer demands to coming back to life.

 

GDP
IMAGE/Google

 

Indian economy has to grow up to 7.1% in last quarter, to achieve the growth projection of 6.6%. In 2016-17 Indian economy had expanded by 7.1% and 8.2% in 2015-16.

According to the January projections by the CSO it is estimated that Indian economy will grow by 6.5% in 2017-18 but it’s just an estimation because it marginally comes upwards and from the data of Economic survey it is still lower than 6.75%.

Madan Sabnavis, who is the chief economist, said that “should grow to 7.5% in the year 2018-19.

To make sure that acceleration can be attributed base effect, India also cancelled down the tender of high-value note on November 2016 which leads to disruption in whole activities of the economy.

Coming to a statement by Finance Ministry, said: “the robust growth in significant acceleration in construction and manufacturing marks a great turnaround in country’s economic momentum of growth”.

We hope that by the end of a year, Indian economic growth will be fully come back to the track with its acceleration that we are seeing nowadays.