Indian economy grew by 7.5 in third quarter of FY2014-15 Expected to grow

Indian economy grew by 7.5% in the third quarter (September-December) of the current fiscal year 2014-15 compared to growth rate of 8.2% in the previous quarter, as per the data released by the Central Statistics Office (CSO) based on new base year 2011-12. The government had recently updated the base year to calculate Gross Domestic Product (GDP) to 2011-12 from 2004-05.

The sectors which registered a growth rate of over 7% are financial, real estate and professional service; trade, hotels, transport, communication and services related to broadcasting; public administration, defence and other services; and electricity, gas, water supply and other utility services. Growth in the agriculture, forestry and fishing; mining and quarrying; construction and manufacturing- is estimated to be 1.1%, 2.3%, 4.5% and 6.8% respectively in the same quarter.

Also Indian economy is expected to grow at 7.4% in the current financial year 2014-15 compared to 6.9% growth witnessed in the previous financial year.