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India Is Again Fastest Growing Economy
By: Tupaki Desk | 31 May 2018 1:15 PM GMT
India retained its position as World's Fastest Growing Economy in the January-March Quarter. Gross Domestic Product (GDP) of the nation went up to 7.7 percent in the 4th Quarter. Thanks to impressive growth in Construction Sector (11.5 percent), Manufacturing (9.1 percent) and Agriculture (4.5 percent).
Actually, Economists estimated the GDP growth of Q4 at 7.3 percent. Surprisingly, GDP performed beyond the predictions of the Experts.
For the complete financial year 2017-18, India's GDP stood at 6.7 percent, that's less than 7.1 percent in 2016-17.
Economists see the GDP growth as a good indication. They now expect GDP for 2018-19 to be over 7 percent. Biggest threat could be the rise of Crude Oil Prices which touched $80 per barrel in May 2018. 80 percent of Oil Needs for India are addressed through Imports. Rise of oil prices by every $10 per barrel will reduce India's growth by 0.2 to 0.3 percent.
Actually, Economists estimated the GDP growth of Q4 at 7.3 percent. Surprisingly, GDP performed beyond the predictions of the Experts.
For the complete financial year 2017-18, India's GDP stood at 6.7 percent, that's less than 7.1 percent in 2016-17.
Economists see the GDP growth as a good indication. They now expect GDP for 2018-19 to be over 7 percent. Biggest threat could be the rise of Crude Oil Prices which touched $80 per barrel in May 2018. 80 percent of Oil Needs for India are addressed through Imports. Rise of oil prices by every $10 per barrel will reduce India's growth by 0.2 to 0.3 percent.
