India’s GDP grew 7.7% in Q4, highest in 7 quarters

Indian economy grew 7.7% in the January-March quarter of 2017-18 overtaking China’s 6.8% growth in the same quarter, government data showed on May 31. This biggest expansion in seven quarters was the result of high performance in manufacturing, construction, service sectors and farm output. However, the economic growth slowed to 6.7% in 2017-18 compared with 7.1% in 2016-17. Chief Economic Adviser Arvind Subramanian said the higher growth rate was predicted in the Economic Survey. Union Minister Piyush Goyal said GDP growth has been increasing every quarter and the 7.7% growth rate shows the economy is on the right track. Goyal predicted higher growth in the coming quarters. If that happens, BJP, which leads the federal government, will have an edge over the united opposition in the 2019 general elections.