Economy to grow at higher rate in coming quarters, says Niti Aayog

Terming as 'excellent news' the 8.2 per cent GDP growth in the first quarter of 2018-19, Niti Aayog Vice Chairman Rajiv Kumar said  that it will surely be higher in the coming quarters.

The Indian economy grew at 8.2 per cent in the first quarter of 2018-19 on good show by manufacturing and farm sectors.

"Excellent news of GDP hitting a 9-quarter high at 8.2 per cent. This is slightly higher than my own estimate of 7.8 per cent which I had announced at the Motilal Oswal Investors Summit on 27th Aug.

"The growth rate will surely be higher in the coming quarters," Kumar said in a tweet.

The growth cemented India's position as the fastest growing major economy, clocking higher expansion rate than China's 6.7 in the same quarter.

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The gross domestic product (GDP) at constant (2011-12) prices in the first quarter of 2018-19 is estimated at Rs 33.74 lakh crore, as against Rs 31.18 lakh crore in Q1 of 2017-18, showing a growth rate of 8.2 per cent, a Central Statistics Office statement said.