India's economic growth rate is far faster than analysts' expectations, as the manufacturing activities have increased, and the government has increased expenditure before the election.Hyderabad Investment
According to government data released on Thursday, the three -month gross domestic product as of September increased by 7.6%year -on -year, higher than all estimates in the investigation of economists.This data is also significantly higher than the 6.5%expectations of the Bank of India.
As manufacturers have increased production and consumption growth, and the Modi government increases its investment before the next election, strong economic growth means that India will continue to maintain its position as the fastest growing major economy in the world.In the case of soaring inflation and the six hikes of the central bank since last year, the Indian economy still showed toughness.Jaipur Investment
"Strong economic growth is supported by cyclical factors, such as strong corporate profits, strong fiscal stimuli, and government expenditure before the election," said EMKAY Financial Services Economist Madhavi Arra.New Delhi Investment
The Modi government is investing billions of dollars to improve India's infrastructure and provide subsidies for companies that want to set up a production line in India.Coupled with the steady consumption, it has prompted the increase in investment in the private sector.As a fixed capital of investment measurement indicators, the total amount of fixed capital increased by 11.04%, higher than the 7.95%increase in the previous quarter.
The growth rate of more than half of India's GDP's service industry was lower than the previous quarter, because the global demand for financial services has cooled down.The increase in the agricultural sector has also slowed down, due to the low rainfall than the normal level, the summer crop harvest was weak.
"GDP data unexpectedly rising sharply is a gratifying signal, especially in the context of most non -agricultural sectors," Kotak Mahindra Bank LTD.Economist UPASNA Bhardwaj said.
However, a strong demand momentum will challenge the Indian central bank that tries to reduce the inflation rate to 4%target.The Indian Bank of India has continuously maintained interest rates at four consecutive meetings and will conduct the next monetary policy assessment on December 8.Kolkata Stocks
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