Boost for economy: GDP grows at 8.2 per cent in Q1 of 2018-19
The impressive growth numbers can be attributed to the strong performance by core sectors, more purchases by households and capacity improvement by companies.
The Indian economy registered an impressive growth of 8.2 per cent during April-June period of the current financial year 2018-19. The number, highest in last 15-quarter, showed that the economy is doing well leaving behind the effects of demonetisation and the Goods and Services Tax.
The impressive growth numbers can be attributed to the strong performance by core sectors, consumer spending and capacity improvement by companies.
The growth cemented India's position as the fastest growing major economy, clocking higher expansion rate than China's 6.7 in the same quarter.
Eight core sectors - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity- have grown by 6.6 per cent in July this year against 2.9 per cent last year. The growth was pushed by healthy output in coal, refinery products, cement and fertiliser.
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