India Becomes the Fastest Growing Economy

India has become the fastest running economy in the world by overtaking China. During the January-March quarter, the GDP grew at a rate of 7.7%. The pace of Indian economy has been 6.7% in fiscal year 2017-18. The government has released GDP data.

At the beginning of this week, Central Government Economic Affairs Secretary Subhash Chandra Garg had claimed that during the January-March quarter, the GDP growth in Asia's third largest economy is estimated to be 7.3% to 7.5%.

Earlier, in February, the government had estimated GDP growth at 6.6%. The estimate released on Thursday is much higher than that estimate. In January-March quarter, China's growth was 6.8%, much less than India. These figures of GDP are a sign of improvement in good corporate income and industrial input data.