India fastest-growing economy despite slump
New Delhi, Nov 30 (IBNS): India is the fastest-growing major economy in the world, even ahead of China, despite slowing down to 7.1 per cent during July-September from 8.2 per cent the previous quarter.
China grew at 6.5 per cent during the July to September quarter, reports said.
"GDP at Constant (2011-12) Prices in Q2 of 2018-19 is estimated at `33.98 lakh crore, as against `31.72lakh crore in Q2 of 2017-18, showing a growth rate of 7.1 percent," read a government statement released Friday.
"Quarterly GVA (Basic Price) at Constant (2011-2012) Prices for Q2 of 2018-19 is estimated at `31.40 lakh crore, as against `29.38lakh crore in Q2 of 2017-18, showing a growth rate of 6.9 percent over the corresponding quarter of previous year," it said.
"The economic activities which registered growth of over 7 per cent in Q2 of 2018-19 over Q2 of 2017-18 are manufacturing, electricity, gas, water supply and other utility services, construction, public administration and defence among others," the statement added.
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