Growing at its fastest in seven quarters, India recorded a 7.7 per cent growth in its real gross domestic product (GDP) in the January-March period.
The GDP was boosted by an uptick in the manufacturing and construction sectors, a good rabi harvest and strong performance in the service sector.
The overall growth rate for the full fiscal year is estimated at 6.7 per cent. This is up marginally from the second advance estimate of 6.6 per cent and the first advance estimate of 6.5 per cent.
The economy grew at the highest rate since September 2017. With a growth of 7.7 per cent, India retained its place as the world’s fastest-growing major economy. While the GDP growth was 7.1 per cent in 2016-17, growth is projected to rebound to 7.5 per cent this year.