India's GDP grows superb in Q4
The latest Central Statistics Office figures suggest that Indian economy has recovered from the avoidable shocks of Demonetization and GST. The fourth quarter (Q4) of 2017-18 registered a growth rate of 7.7%. This is well above what most economists were projecting.
The first three quarters had seen 5.6%, 6.3% and 7% respectively. For the year 2017-18, the overall growth is 6.7%. This is a disappointment for the year as a whole.
Improved corporate earnings and a buoyancy in the industrial production data are being cited as the reasons for the upswing in Q4.
The Opposition Congress, however, has taken potshots at the NDA government. "Modi Govt was quick to claim credit when Moody's improved the ratings for India. But has only deathly silence to offer when Moody's forecast a cut in GDP growth," it said today.