GDP grows by 5.7 per cent during first quarter of 2014-15, Indian economy on a two-year high

Mangalore Today News Network

New Delhi, August 30, 2014:  In an apparent sign of revival, the Indian economy expanded by 5.7 per cent during the first quarter of the current financial year to log the highest growth yet in nine quarters, official data showed on Friday.

The gross domestic product (GDP), which is the aggregate market value of all the goods and services produced in the country, had expanded by just 4.6 per cent in the previous quarter, that is January-March, and by 4.7 per cent in the like quarter of last fiscal.

The 5.7 per cent growth in April-June quarter is also the highest since the 6 per cent increase logged during October-December quarter of 2011-12, according to data compiled by the Central Statistics Office (CSO).

The first quarter GDP growth has been boosted by a sharp turnaround in manufacturing as well as a good performance by mining and construction sector.

Agriculture sector output grew at 3.8 per cent in April-June this year, slightly lower than 4 per cent growth in same quarter last year.

Electricity output grew at a much improved 10.2 per cent as compared to 3.8 per cent in same quarter of the previous fiscal.

The construction sector grew at 4.8 per cent, against 1.1 per cent in the same period a year ago.

Private final consumption spending stood at Rs.930,000 crore versus Rs.880,000 crore year-on-year, while the government’s final consumption spend logged at Rs.180,000 crore against Rs.170,000 crore.

 

Courtesy:Indiatoday