Breaking! Highest growth since Modi came to power
As has been expected, India has registered a high GDP growth rate of 8.2% in the first quarter of financial year 2018-19. This is the best figure since Narendra Modi became the PM in 2014.
For perspective, here are the figures vis-a-vis what was the case just a year ago (as put out by Geetu Moza, a business editor):
1. Q1 GDP growth 8.2% vs 5.6% year ago
2. Apr-Jun Gross Value Added growth 8.0% vs 5.6% year ago
3. Q1 Construction sector growth 8.7% vs 1.8% year ago
4. Manufacturing sector growth 13.5% vs -1.8% year
5. Farm sector growth 5.3% vs 3.0% year ago
"This growth is reflective of the Government's initiative to spur the Indian economy and is a result of the bold reforms undertaken by Prime Minister," said Union Minister Piyush Goyal.
The rebound in growth rate is important in an election year.