Indian economy grew by 7.4 per cent in second quarter of FY16

The Indian economy grew at a faster rate of 7.4% during July-September quarter due to higher growth in the manufacturing sector. This economic growth is much higher compared to 7.1% growth in the previous quarter while slower compared to 8.4% growth seen in the same quarter last year. This higher growth is definitely a good news for Government which has identified economic growth as its top most agenda.

Manufacturing sector grew by 9.3% in the same quarter while Trade, hotel, transport and communication sector grew by 10.6% and financial services, real estate and professional services grew by 9.7% in the same quarter.