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Growth rate zooms to 8.2%, highest in two years

India’s economy grew at a two-year high of 8.2 per cent in the April-June quarter of current fiscal (2018-19) on good show by manufacturing and farm sectors and consumer spending, according to the government data released on Friday. It improved from 7.7 per cent in the previous quarter. The growth had slipped to 5.6 per cent in the same period last fiscal.

The latest growth cemented India’s position as the fastest-growing major economy, clocking higher expansion rate than China’s 6.7 per cent in the same quarter. India became the globe’s sixth-biggest economy in 2017, pushing France into seventh place, according to figures released by the World Bank last month.

The gross domestic product (GDP) at constant (2011-12) prices in the first quarter of 2018-19 is estimated at Rs 33.74 lakh crore, as against Rs 31.18 lakh crore in Q1 of 2017-18, showing a growth rate of 8.2 per cent, a Central Statistics Office statement said.

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