India’s economy grew at its fastest in seven quarters in the January-March period, encouraged by strong performance in construction, manufacturing and public services, pointing to a persistent revival trend and bringing cheer to the government ahead of next year’s general election.
The full FY18 growth estimate was revised upward to 6.7 per cent from 6.6 per cent in the second advance estimate released in February. This is in line with the 6.75 per cent growth forecast by the Economic Survey and down from 7.1 per cent in FY17 with the slowdown being attributed to the lingering effect of demonetisation and the rollout of the goods and services tax (GST) in July last year.
“GDP growth has been increasing continuously every quarter with growth of 7.7 per cent in Q4 of 2017-18,” finance minister Piyush Goyal tweeted.
