Bibek Debroy, chairman of prime minister’s economic advisory council. Photo: Pradeep Gaur/MintNew Delhi: Enthused by the December quarter economic growth of 7.2%, chairman of the economic advisory council to the prime minister (EAC-PM), Bibek Debroy said today that India is on the right path to become one of the fastest expanding major economies in the world surpassing China. “The GDP trends are consistent with the robust growth of the manufacturing Purchasing Manager’s Index (PMI), Index of Industrial Production (IIP) and consumer demand,” an official statement said, quoting Debroy. Showing signs of recovery, the Indian economy recorded a five-quarter high growth of 7.2% in the October-December period on good showing by key sectors like agriculture, construction and manufacturing. The economy is expected to grow at 6.6% in the current fiscal ending 31 March, as per the second advanced estimates of the Central Statistics Office (CSO), compared to 7.1% in 2016-17.

Source: Mint February 28, 2018 15:56 UTC