India's GDP grows at 15-quarter high of 8.2% in Q1
The Indian economy grew at a 15-quarter high of 8.2% in the April-June quarter of Financial Year 2018-19 on a good show by manufacturing and farm sectors, according to the government data released today. The GDP growth has cemented India's position as the fastest growing major economy, clocking higher expansion rate than China's 6.7% in the same quarter. Here's more.
The gross domestic product (GDP) at constant (2011-12) prices in Q1 of FY 2018-19 is estimated at Rs. 33.74 lakh crore, as against Rs. 31.18 lakh crore in Q1 of FY 2017-18, showing a growth rate of 8.2%, a Central Statistics Office statement said.
According to the official statement, the Quarterly GVA (Gross Value Added) at basic price at constant (2011-2012) prices for Q1 FY19 is estimated at Rs. 31.63 lakh crore, as against Rs. 29.29 lakh crore in Q1 of FY18, showing a growth rate of 8% over the year-ago period. The previous high quarterly GDP growth was recorded in July-September period in 2014-15 at 8.4%.
As per the official data, the Quarterly GVA at basic prices for Q1 2018-19 from manufacturing sector grew by 13.5% as compared to a contraction of 1.8% in Q1 2017-18. The Quarterly GVA at basic prices for Q1 2018-19 from agriculture, forestry, and fishing sector, meanwhile, grew by 5.3% as compared to growth of 3% in Q1 2017-18.