GDP Report Positive For Sensex, Nifty – Gold Silver Reports
India’s economy returned to 8 percent growth for the first time in two years, as strong consumer demand has spurred a modest revival in private investment.
Gross domestic product growth in the first quarter of 2018-19 was at 8.2 percent compared with 5.6 percent in the same quarter last year, according to data released by the Central Statistics Office today. In the fourth quarter of 2017-18, GDP growth was at 7.7 percent.
A Bloomberg poll of economists had pegged the growth at 7.6 percent. The range of estimates stretched from a low of 7 percent to a high of 8.2 percent.
In gross value added terms, the economy grew at 8 percent compared to 5.6 percent last year. GVA growth has become a preferred measure of economic growth as it strips out the impact of indirect taxes and subsidies.
