The Indian economy grew at a rate of 5.3 per cent in July-September quarter on account of improved performance of mining, power and certain services sectors. The Gross Domestic Growth in the second quarter was better than 5.2 per cent of the same period last fiscal but was slower than 5.7 per cent rate achieved in first quarter of the current fiscal. According to data released by Central Statistics Office in New Delhi today, the economic growth in first half of this fiscal was 5.5 per cent as compared to 4.9 per cent in the same period in 2013-14. The mining sector grew by 1.9 per cent in July-September quarter compared a flat output in same period year-ago. However, manufacturing sector recorded a growth of 0.1 per cent in the second quarter as against a growth of 1.3 per cent in same period last year. Electricity, gas and water supply segment grew by 8.7 per cent in second quarter compared to 7.8 per cent in same period last year. The farm sector, which includes agriculture, forestry and fishing, recorded deceleration in growth at 3.2 per cent in second quarter compared to 5 per cent a year ago. The community, social and personal services sector grew at 9.6 per cent in second quarter compared to 3.6 per cent in the same period last year.
News On AIR | November 28, 2014 8:26 PM
India's GDP growth slows to 5.3 % in second quarter