Piyush Goyal listed the major reasons for GDP growth, how did the record break, leaving behind all estimates?

News Topical, Digital Desk : Commerce and Industry Minister Piyush Goyal on Saturday said the economy registered a growth of 8.2 per cent in the July-September quarter of the current financial year due to various steps and reforms taken by the government to enhance ease of doing business.

Goyal said that despite uncertainty in global trade, the country's exports are also registering good growth. He participated in the national padyatra organised here to mark the 150th birth anniversary of Sardar Vallabhbhai Patel.

He said, "This growth of 8.2 percent reflects the many reform measures taken by the government. Many steps have been taken to promote domestic manufacturing and ease of doing business."

India is the world's fastest growing large economy

The Gujarat government is organising the padyatra from Karamsad to the Statue of Unity in the state's Narmada district to mark Sardar Patel's birth anniversary. He said the growth rate refutes claims made by some quarters and shows that India is the world's fastest-growing large economy. "We will continue to see sustained and robust growth," Goyal said.

He said India's exports of goods and services also registered high growth during the April-October period of the current fiscal year. Goods exports rose marginally by 0.63 percent to $254.25 billion in the April-October period, while imports grew by 6.37 percent to $451.08 billion. Services exports in the first nine months of the current fiscal year stood at $237.55 billion, compared to $216.45 billion in the same period last year. 

According to official data, GDP growth was 8.2%, up from 7.8% in the April-June quarter. Strong public investment, demand for services, industrial production, and consumption boosted the growth, as well as a low base. The manufacturing sector grew 9.1% in the second quarter, while construction grew 7.2%.

Prime Minister Narendra Modi also described the second quarter performance as "very encouraging" and Finance Minister Nirmala Sitharaman said India remains a global growth leader due to reforms, consumption momentum and fiscal consolidation.

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