May 31, 2016 7:43 PM

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Indian economy grows at 7.6% in FY'16, 7.9% in Q4

The Indian economy recorded a strong growth of 7.9 percent in the fourth quarter of the 2015-16 fiscal. Growth was lifted mainly by a good performance by the manufacturing and farm sectors. Consequently, GDP growth for the full 2015-16 fiscal improved to a five-year high of 7.6 per cent. According to data released by the Central Statistics Office, the manufacturing sector grew 9.3 percent during the fourth quarter, and the farm sector grew 2.3 per cent. The mining and quarrying sector grew 8.6 per cent in the fourth quarter, while electricity, gas, water supply and other utility services recorded a growth rate of 9.3 per cent.

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