India, Sept. 1 -- The Indian economy grew at 7.8% in the first quarter (April-June 2026) of the current fiscal year braving what has been described as the largest oil shock in the history of capitalism. The data, released by the National Statistics Office (NSO) on Monday, positively surprised analysts and pleased the government.

"India's exemplary GDP growth of 7.8% during Q1 of FY 2026-27 is a herculean feat. The collective strength of our people ensured India delivered such growth despite oil price shocks and supply chain issues in the midst of global uncertainties. Doomsayers were doomed and India bloomed.yet again!", Prime Minister Narendra Modi said in a post on X.

Finance minister Nirmala Sitharaman also attributed the performance...