According to a report by the Economist Intelligence Unit, the real Gross Domestic Product of India in the December-ending quarter is likely to be the highest among G7 and BRICS countries. Even in the quarter that ended September, where most of the world’s biggest economies are expected to show weak results, only India and the UK are expected to declare results that show growth from the previous quarter.
The global economy is going through a slowdown and since the 2008 financial crisis, is expected to be sluggish this year. The International Monetary Fund (IMF) has predicted global growth of just 3%, down 0.2% from the previous projections in July.
Minister of Finance and Corporate Affairs, Nirmala Sitharaman had said earlier that the country’s economy was still growing at the fastest pace in the world and the slowdown is caused by many global factors apart from the domestic demand and investment crisis.
The Economist Intelligence Unit report has tied in with the Minister’s statement. Additionally, the latest measures that she has announced since August are likely to show results and are expected to advance India’s economic growth.