India has retained the fastest growing economy tag clocking a stellar 7.7 % in fourth quarter of the FY18. India Also Surpassed China to become worlds fastest growing economy.
As compared to India’s outstanding performance, China Grew at 6.8% in the January to March Quarter. The Indian economy has been witnessing steady climb up the ladder in this fiscal .
As the statistics suggest, it has marched confidently over the past many months.Union Finance Minister Piyush Goyal tweeted to drive home the point that the new figures prove that the economy is on the right track. The union Minister said that it is set for even higher growth in the future.
The uptick in GDP figure is supported by the buoyancy in the industrial production data in the fourth quarter.The core sector witnessed a growth of 4.7 % in April compared to 4.4 % in March.
Experts believe that GDP growth in 2018-19 could get a boost from prospects of good monsoon which will further boost the agriculutural produce and farm output.