Indian Economy Grows 7.1 Per Cent In September Quarter

India's economy grew a lower-than-expected 7.1 per cent in the July-September quarter from a more than two-year high of 8.2 percent in the previous quarter, government data showed today.

India's $2.6 trillion economy, Asia's third largest, grew 6.3 per cent in the July-September quarter of 2017, the data released by the statistics ministry showed.

"GDP at constant (2011-12) prices in Q2 of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore in Q2 of 2017-18, showing a growth rate of 7.1 per cent. Quarterly GVA (basic price) at constant (2011-2012) prices for Q2 of 2018-19 is estimated at Rs 31.40 lakh crore, as against Rs 29.38 lakh crore in Q2 of 2017-18, showing a growth rate of 6.9 per cent over the corresponding quarter of previous year," The Central Statistics Office said.

The Government agency released the date today days after CSO and NITI aayog revised down the GDP growth rate for the UPA Government's tenure between 2005-06 and 2011-12 on the basis of the new base year 2011-12.

The Reserve Bank of India too had projected the GDP growth rate for the year 2018-19 at 7.4 per cent in its last monetary policy framework.