The Indian economy grew at five quarter high of 7.2 percent in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services.
The economy is expected to grow at 6.6 per cent in the current fiscal ending 31 March, as per the second advanced estimates of the Central Statistics Office (CSO), compared to 7.1 percent in 2016-17.
India's third quarter growth numbers beat all estimates with the GDP comin in at 7.2 percent which was not according to the polls and opinions given by the experts. Most of the economists had expected GDP will grow in the range of 6.5 to 6.9 percent.
The GDP number for October - December quarter at 7.2 percent is much better than what the stock market had expected. FY18 GDP estimate revised upwards to 6.6 percent from earlier 6.5 percent.
In third quarter, manufacturing GVA growth was at 8.1 percent as against 6.9 percent in preceding quarter and similar figure was in the corresponding period last year.
Agricultural GVA rose by 4.1 percent against 2.7 percent in precedig quarter and 7.5 percent in year ago quarter.
Construction showed a 6.8 percent growth compared with 2.8 percent growth in preceding and year-ago quarter.
India's fiscal deficit touched Rs 6.77 lakh crore at the end of January, 113.7 percent of the target for the entire fiscal, on account of higher expenditure.
The fiscal deficit, reflection of government borrowings to meet revenue-expenditure gap, was 113.7 percent in the 10-month period of 2017-18 as compared to 105.7 percent in the year-ago period.
Fiscal deficit had been pegged at Rs 5.33 lakh crore, or 3.5 per cent of the GDP, for the current fiscal ending 31 March. The figure was revised to Rs 5.95 lakh crore in the Union Budget 2018-19, presented in Parliament earlier on 1 February.
As per data released by the Controller General of Accounts (CGA), the revenue deficit during the April-January period of 2017-18, at Rs 4.80 lakh crore works out to 109.2 pr cent of the revised budget estimate.
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