New Delhi: In a big boost for Narendra Modi-led government, India’s economic growth surged to a more than two-year high of 8.2 percent during the period from April to June of 2018-19, official data showed on Friday. The GDP at 2011-12 prices in the first quarter (Q1) of 2018-19 registered growth rate of 8.2 per cent, up from 7.7 per cent reported for Q4 of 2017-18, the Central Statistics Office (CSO) said.Also Read - Indian Economy Recovers Fully To Pre-Pandemic Level Yet May Witness Slowing Growth, Says Finance Ministry | Details Here
“The economic activities which registered growth of over 7 percent in Q1 of 2018-19 over Q1 of 2017-18 are ‘manufacturing’, ‘electricity, gas, water supply and other utility services’, ‘construction’ and ‘public administration, defence and other services’,” a statement by Ministry of Statistics and Programme Implementation read. Also Read - India Emerges As Fastest-Growing Economy With GDP Growth Rate of 8.7 Per Cent
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“The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘trade, hotels, transport, communication and services related to broadcasting’ and financial, real estate and professional services is estimated to be 5.3 per cent, 0.1 per cent, 6.7 per cent, and 6.5 per cent respectively during this period,” it added.
Speaking to reporters over the GDP growth, DEA Secretary Subhash C Garg, said,”Economic performance is back to very normal. We had over 8% of quarterly growth last time in first quarter of 2016-17. Now after 8 quarters,we are at 8.2%.From 8.1% we have come to 8.2% which signals economic growth now on steady high growth path.”
Notably, the improved figures comes days after back-series data released recently showed that the GDP growth rate had crossed 10 per cent mark during UPA rule.
(With inputs from agencies)