Podcast | Editor's Pick of the Day - India records 8.2% GDP growth in the first quarter of FY18, racing past China
Episode 387, Sep 03, 2018, 01:10 PM
India’s economy zoomed to a nine-quarter high, clocking an 8.2 percent growth in the April-June quarter, beating analyst expectations. The growth has been on the back of a pickup in manufacturing, and of course, a low base from the year-ago period. The numbers have brought some relief to the administration in New Delhi, already under fire about the demonetization episode and the depreciating rupee. “India’s GDP for the first quarter this year growing at 8.2% in otherwise an environment of global turmoil represents the potential of New India. Reforms and fiscal prudence are serving us well. India is witnessing an expansion of the neo middle class,” tweeted finance minister Arun Jaitley.