• 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.

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