GDP growth at 7.5% in March quarter; 7.3% in FY15

The country's gross domestic product (GDP) grew 7.3% in 2014-15, slightly lower than 7.4% calculated in advance estimates (AE). The economy rose 6.9% in 2013-14 and 5.1% in the previous year.

While GDP rose 7.5% in the fourth quarter (Jan-March), the same as was pegged in advance estimates, the previous quarters saw major changes in actual data released today compared to AE.           

The first quarter GDP rose 6.7% against earlier estimates of 6.5%, the second quarter yielded 8.4% compared to 8.2%. It was the third quarter GDP that saw major revision. It was pegged at 7.5% earlier, but actually grew by 6.6%.

Contrary to expectations, industry projections were better than what was projected in advance estimates.  It turned out to be 4.8% against 4.5% pegged earlier.

It was agriculture that pulled down GDP slightly as it rose just 0.2% against 1.1%, pegged in advance estimates.

Services rose 10.1%, moderately lower than 10.6% estimated earlier.