The 7.2 per cent expansion of economy during the October-December quarter last year — the highest in five quarters — has put India in one of the highest growth bracket in the world and recovery will continue to be sharp, economic affairs secretary Subhash Chandra Garg recently said. The previous high was recorded at 7.5 per cent in July-September 2016-17.
The GDP grew at 5.7 per cent in the first quarter of the current fiscal, while the second quarter growth stood at 6.5 per cent.The 7.2 per cent expansion of economy during the October-December quarter last year — the highest in five quarters — has put India in one of the highest growth bracket in the world and recovery will continue to be sharp, economic affairs secretary Subhash Chandra Garg recently said. The previous high was recorded at 7.5 per cent in July-September 2016-17.#
A very strong V-shaped recovery would be seen as is evident from the growth figures in the second and third quarters, a news agency report quoted Garg as saying.
The country’s economy is projected to grow at 6.6 per cent in the current fiscal ending March 31, compared to 7.1 per cent in 2016-17, according to the second advanced estimates of the Central Statistics Office (CSO).
Garg said Fitch too had a good assessment of the country's future prospects, but whether that results in an upgrade is up to global rating agency. (DS)
ALCHEMPro News Desk – India
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