Growth may decline in Q3, Q4: Chidambaram

New Delhi : As India's GDP growth for the first quarter of 2018-19 accelerated to 8.2 per cent, former Finance Minister P. Chidambaram said the rate of growth may decline in Q3 and Q4, and the annual growth rate could be almost like last year's.

"Happy that the rate of growth has quickened. But, Q1 growth rate is based on the lowest base (5.6) in the last 8 quarters," said Chidambaram.

"Going forward, the base effect will not be so favourable. And when we reach Q3 and Q4, the rate of growth may decline and the annual growth rate may be more or less like last year's," he added.

An upswing in manufacturing activity accelerated India's GDP growth rate in the first quarter of 2018-19 to 8.2 per cent, official data showed on Friday.