He said that 8.2 per cent growth in “otherwise an environm-ent of global turmoil represents the potential of new India”.
New Delhi: India’s economic growth accelerated to fastest pace in over two years to clock 8.2 per cent in the April-June quarter of 2018-19 led by manufacturing and farm sectors, according to official data released by Central Statistics Office on Friday.
This made India the world’s fastest growing major economy ahead of China which expanded by 6.7 per cent in the same period.
The fast economic growth comes as a major boost for PM Narendra Modi before the Lok Sabha elections of 2019 and will blunt the criticism of mismanagement of the economy from Opposition parties who have attack-ed the government over demonetisation and GST roll-out jitters. “Reforms and fiscal prudence are serving us well. Ind-ia is witnessing an expansion of the neo-middle class,” said Union finance minister Arun Jaitley.
He said that 8.2 per cent growth in “otherwise an environment of global turmoil represents the potential of new India”.