Home ECONOMY India logs 7 percent growth in first quarter

India logs 7 percent growth in first quarter


New Delhi, Aug 31:

The Indian economy logged a 7-percent growth in the first quarter of the this fiscal, showing signs of slowing vis-a-vis the 7.5-percent expansion in the quarter before. But the growth was much higher than 6.7 percent registered in the first quarter of last fiscal.

indian-economyAs per official data on gross domestic product (GDP) released by the Ministry of Statistics and Programme Implementation, the growth of 7 percent was led mainly by a 12.8-percent expansion in commercial services, 8.9 percent in financial services and 7.2 percent in manufacturing output.

The farm sector expanded by 1.9 percent, below the overall growth rate, and so did the mining industry (by 4 percent), energy by (3.2 percent) and construction (by 6.9 percent), and social and defence services (by 2.7 percent). (IANS)