Indian economy on recovery, completes growth of 8.2 percent in first quarter

With 8.2 percent growth in the first quarter, the Indian economy has completed its recovery process and will exceed 7.5 percent growth rate in fiscal 2018-19, Economic Affairs Secretary Subhash Chandra Garg said on Friday.

"With this quarter, I think the V-shaped recovery process is complete. We started reducing from 8.1 per cent and now we have come to 8.2 per cent which signals economic growth now on a very steady high growth path," Garg told reporters.

As per an official data released by the Central Statistics Office (CSO), the GDP at 2011-12 prices in the first quarter of 2018-19 registered a growth of 8.2 per cent, up from 7.7 per cent in Q4 of 2017-18 and 5.6 per cent from year-ago corresponding quarter.

"We predicted growth would be in the range of 7 to 7.5 percent annually. I think we are reasonably confident now that we might even exceed the higher end of our projection and therefore Indian economy would be performing robustly and will definitely be the highest growing economy in the world," the Finance Ministry official said.

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