GDP grows at 8.4% in Q2: India still fastest growing large economy in world

India was the fastest growing major economy in the world during the second quarter of the current financial year.

However, not all growth rates were taken on a year-on-year basis as is the practice in India. Most advanced economies calculate it on a quarter-on-quarter basis. While India's economy still has to recover compared to the pre-Covid economic activities at a reasonable rate, the story around the world is no different. For instance, commenting on China's growth, Fu Linghui, spokesperson for the National Bureau of Statistics, said, “Since entering the third quarter, domestic and overseas risks and challenges have increased.”

Similarly, the world's