New Dellhi : Gross domestic product ( GDP ) grew to 7.2 per cent in the October-December quarter. according to government data released today. India regained the status of the world’s fastest-growing major economy in the October-December quarter, driven by a pick-up in growth in manufacturing and services sectors. Gross domestic product or GDP grew 7.2 per cent in in the October-December quarter from a year earlier, according to government data released today. This is the highest quarterly growth recorded since July-September quarter of 2016-17. The growth rate is higher than what the Street had expected. A Reuters poll of more than 35 economists estimated the economy to grow 6.9 per cent in the October-December quarter.
India’s GDP or gross domestic product growth had fallen to a three-year low of 5.7 per cent in the April-June quarter due to destocking in the run-up to the July 1 launch of the goods and services tax (GST) and a lingering impact of demonetisation. But in July-September quarter, the economic growth picked up to a revised 6.5 per cent annually.
Separately, infrastructure output grew by a strong 6.7 per cent in January from a year ago, government data showed today. The growth in output compares with an upwardly revised 4.2 per cent year-on-year growth in December. Infrastructure output, which comprises eight sectors such as coal, crude oil and electricity, accounts for nearly 40 per cent of industrial output.