The Indian economy expanded the fastest in nine quarters and grew 8.2 per cent in the first (April-June) quarter of financial year ending March 2019, on the back of robust consumer spending and a strong growth in manufacturing and construction sectors, according to data released by the Central Statistics Office.
The high growth rate is aided by a low base effect – 5.6 per cent in April-June 2017.
The first quarter economic growth in India is significantly higher than 6.7 per cent posted by China during the same period but then China’s economy is about four times India’s.
In terms of Gross Value Added (GVA), the economy grew at 8 per cent in April-June this year compared with 5.6 per cent in April-June 2017. GVA represents the total output and income in the economy.