This article was last updated on April 16, 2022
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The GDP growth for the period of April to June 2014 has come out as 5.7% which is the fastest economic growth that India has seen in the last ten quarters. This is a massive jump of about 4.6% in GDP growth since the three month period that ended in March 2014. This data has been released by the CSO this Friday evening.
According to Financial Express, an official with the development said that “The uptick in industrial output as well as reasonable growth in the farm sector have given a boost to growth,”, further adding that the low base effect has also given an impetus to GDP growth. The economy grew at 4.6 per cent in the fourth quarter of last fiscal while it registered a growth rate of 4.4 per cent in the first quarter of last fiscal. The Central Statistics Office will release data on GDP growth rate for the first quarter of the fiscal on August 29.
The economic growth of India has been largely subdued marked by sub-5 per cent growth for the last two fiscals with the highest GDP growth registered in the July to September quarter of 2013-14 at 5.2 per cent. “It (the GDP) will only pick up further and the Indian economy is well poised to reach six per cent or may even cross the six per cent mark for the full financial year 2014-15,” Assocham President Rana Kapoor said.
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