India’s Gross domestic product, GDP, for the second quarter of the current fiscal logged fastest growth among major economies in the world. According to the government data released today, GDP of the country grew by 8.4 percent from a year ago.
As per the National Statistics Office, NSO, data, Manufacturing output increased 5.5 percent during the period while construction segment grew 7.5 percent in the second quarter.
The NSO data suggest that household consumption rose in the second quarter, July-September, of FY22 despite the second wave of the Covid-19 pandemic, boosting hopes of a quicker recovery in consumer demand in the months ahead. Economy of the country has gained momentum during the quarter as demand in the economy gradually came back to normalcy after coronavirus-related disruptions.
The economy had contracted 7.5 percent in the same period last year.