In a robust bounce-back, GDP grows 7.7% in Jan-Mar quarter

RSTV Bureau
File photo of an electrical manufacturing unit  in Neemarana, Rajasthan. Photo: RSTV.

File photo of an electrical manufacturing unit in Neemarana, Rajasthan. Photo: RSTV.

Showing signs of a robust bounce-back, the Indian economy grew at 7.7 per cent in January-March quarter, a leap forward in comparison to 6.1 per cent an year ago. However, the overall economic growth slowed down to 6.7 per cent in 2017-18 compared to 7.1 per cent in 2016-17.

The slowdown is attributed to the slower runs in April-June and July-Sept quarter where it clocked 5.6% and 6.3% respectively.

Eight infrastructure industries recorded 4.7 per cent growth in April helped by healthy performance in segments like coal, natural gas and cement. The growth rate of eight core sectors, which also include fertilisers and steel, was 2.6 per cent in April 2017, according to the data released by the commerce and industry ministry today.

Coal, natural gas, refinery products and cement grew by 16 per cent, 7 .4 per cent, 2.7 per cent, and 16 .6 per cent in April this year, respectively.

As per the data, growth in the fertiliser production was 4.6 per cent and in steel sector it was 3.5 per cent in April on yearly basis.

Electricity generation increased by 2.2 per cent in April this year, over the same month of 2017. However, crude oil production declined by 0.8 per cent in on yearly basis.

(With inputs from Agencies)