The April-June quarter saw India’s economy grow at its quickest rate in a year, amid a favourable base effect and better activity following the easing of pandemic-related restrictions.
Asia’s third-largest economy grew by 13.5 percent in the fiscal first quarter, below Reuters’ expectation of 15.2 percent but well exceeding the 4.1 percent growth rate in Q4 of 2022.
The first quarter’s economic momentum was boosted by a resurgence in private spending, one of the important determinants for the economy, and growth in contact-intensive sectors amid reducing Covid-19 worries. Furthermore, a major coronavirus Delta wave in the Q1 of 2021-22 had impeded growth as consumer demand slowed due to state-enforced transportation restrictions.
