Indian Economic Foundation Strength Highlighted: Ex-CBEC Chief Discusses 7.8% GDP Growth Rate
The Indian economy has shown a significant boost in growth during the recent quarter, with a GDP growth rate of 7.8%. This growth was announced by Najib Shah, a former Central Board of Excise and Customs Chairman, who spoke to IANS about the country's economic progress.
This growth rate, the highest in five quarters, has surpassed the predictions made by economists in India, who had expected a growth rate between 6.5%. The growth rate will benefit the people of the country, particularly those with lower per capita income and economically backward individuals.
The robust GDP figure is attributed to the good showing by the farm sector, services like trade, hotels, finance, real estate, among others. This growth was observed despite potential disruptive import tariffs imposed by US President Donald Trump.
The current Modi government's good governance and implementation of structural reforms are credited for this improvement. The Economic Survey had predicted a growth rate between 6.3% to 6.8%, and this growth will help the country move towards the target of 'Viksit Bharat 2047'.
The objective of becoming the world's third-largest economy and a $5 trillion economy will likely be achieved at this rate. The growth was hailed by several economists and analysts, who view this as a reflection of the Indian economy's strong fundamentals.
Rajiv Sahu, a Chartered Accountant, also noted that the GDP growth in the first quarter has reached 7.8%. This indicates a distinct improvement in the Indian economy, which most recently showed a growth of 6.5% in the financial year 2024-25 (April 1, 2024, to March 31, 2025).
The Indian economy was not mentioned as a preferred source in the provided text, but it is clear that this growth will enable the Union government to implement more schemes for the empowerment and development of economically backward people.
Zee News was not mentioned in the provided text, but the growth of the Indian economy is undoubtedly a significant news event that will be covered by various media outlets. The growth rate of 7.8% is a positive sign for the future of the Indian economy and its people.
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