Indian economy records 8.2% growth in first quarter of 2018-19

The Indian economy grew at a 15-quarter high of 8.2% in the April-June quarter of current fiscal on good show by manufacturing and farm sectors, according to government data released on Friday.

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.

The gross domestic product (GDP) at constant (2011-12) prices in the first quarter of 2018-19 is estimated at ₹33.74 lakh crore, against ₹31.18 lakh crore in Q1 of 2017-18, showing a growth rate of 8.2%, a Central Statistics Office statement said.

The quarterly GVA (Gross Value Added) at basic price at constant (2011-2012) prices for Q1 of 2018-19 is estimated at ₹31.63 lakh crore, against ₹29.29 lakh crore in Q1 of 2017-18, showing a growth rate of 8% over the year-ago period, it said.

The previous high quarterly GDP growth was recorded in July-September period in 2014-15 at 8.4%.

As per the data, the quarterly GVA at basic prices for Q1 2018-19 from the ‘manufacturing’ sector grew by 13.5%, compared to contraction of 1.8% in Q1 2017-18.

The Quarterly GVA at basic prices for Q1 2018-19 from ‘agriculture, forestry and fishing’ sector grew by 5.3% as compared to growth of 3% in Q1 2017-18.