- India’s GDP in the December quarter (Q3) rose to 7.2%.
- This increase was due to increased public spending and pick-up in manufacturing.
- This serves as a big breather to the nation affected by the twin shocks of demonetization and GST.
- With this, India has regained the tag of ‘fastest-growing major economy’.
- It had lost this tag to China for over 1 year.
- The IMF says India’s growth could rise to 7.4% in 2018 and 7.8% in 2019.