Economy Grows at 7.1% in July-September Quarter

(Representative image/Reuters)

New Delhi: Indian economy grows at 7.1 per cent in the July-September quarter of current fiscal, up from 6.3 per cent year ago, according to official data.

India’s $2.6 trillion economy, Asia’s third largest, grew 6.3 percent in the July-September quarter of 2017, the data released by the statistics ministry showed.

Meanwhile, the April-October fiscal deficit stood at Rs 6.49 trillion ($93.23 billion), or 103.9 percent of the budgeted target for current fiscal year, government data showed on Friday.

Net tax receipts in the first seven months of the fiscal year that ends in March 2019 were 6.61 trillion rupees, government data showed.
The government has said it was confident of meeting its fiscal deficit target of 3.3 percent of GDP in the 2018/19 fiscal year.

Details awaited