GDP at 7.7% : India Overtakes China As Fastest Growing Economy

In a quick turnaround, the Indian economy registered growth of 7.7 percent in January-March quarter gaining a  comfortable lead over rival China trailing behind at 6.8 percent.

According to analysts, the growth has been aided by rapid construction activity, consumer spending and corporate investment.

The national income data showed that Gross Fixed Capital Formation (GFCF), a metric that indicates corporate investment activity, grew 14.4 percent at current prices during January – March quarter, due to 9 percent in capital goods.

Private final consumption expenditure (PFCE) grew at 6.6 percent in 2017-18, lowest in last three years.

Farm sector output grew 4.5 percent in quarter ended March from 3.1 percent in October – Dec. However, mining and quarrying output fell to 2.7 percent in Januay – March from a robust 18.8 percent.

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