At 8.2%, GDP growth touches two-year high

Former Finance Minister P. Chidambaram, however, pointed out in a tweet, “Happy that the rate of growth has quickened, but…Q1 growth rate is based on the lowest base (5.6) in the last 8 quarters.” “Going forward, the base effect will not be so favourable. And when we reach Q3 and Q4, the rate of growth may decline and the annual growth rate may be more or less like last year’s,” he added. Replying to a question, Mr. Garg said, “Inflation numbers so far suggest very moderate and well-controlled inflation… However, I do recognise that oil prices increasing and rupee depreciating will have inflationary implications.” Bibek Debroy, Chairman of the Economic Advisory Council to Prime Minister said, “Despite an uncertain international environment and volatile crude oil prices, India’s sustained growth reflects its strong resilience to adverse global conditions, because of strong economic fundamentals.”

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