India’s gross domestic product (GDP) growth for the three-month period ended September 30 stood at 7.4 per cent, compared with seven per cent in the previous quarter and 8.4 per cent in the same quarter last year. The increase in the rate of growth over the June quarter was mainly on account of good numbers for the manufacturing sector.
Earlier, several economists had estimated the rate of economic growth in the July-September quarter to be 7.3-7.6 per cent, and analysts polled by Reuters and Bloomberg had put the figure at 7.3 per cent.
After the September quarter GDP growth numbers, there is likely to be a downward revision in official GDP growth estimates for the full financial year 2015-16 — the 2014-15 economic survey had estimated it to be between 8.1 per cent and 8.5 per cent.
The gross value added (GVA), comprising agriculture, industry and services, increased 7.4 per cent in the September quarter, against 7.1 per cent in the previous three-month period.
manufacturing growth during the quarter was 9.3 percent, against 7.2 per cent in the previous quarter. The agricultural sector grew 2.2 per cent, against 1.9 per cent.
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