Proud moment! How India become fastest growing economy

A dramatic rebound in investments — a growth of 12% in gross fixed capital formation (GFCF) on a (revised) strong base of 8.7% could not have materialised without substantial private participation — helped the Indian economy to grow at a better-than-expected pace of 7.2% in the third quarter of this fiscal.

Strong shows by manufacturing, agriculture and construction sectors and services that largely held ground have boosted growth. The Central Statistics Office (CSO) also revised the Q2FY18 GDP expansion to 6.5% from 6.3% earlier, and upped its advance estimate of the rate of GDP expansion for 2017-18 to 6.6% from 6.5% seen earlier. GFCF had last grown at faster pace in Q1 FY17, at 15.9%, now revised from 7.4%.

Read more at financialexpress

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