CURRENT UPDATE : INDIAN ECONOMY GROWS 4.7 % IN 3RD QUARTER OF CURRENT FISCAL

INDIAN ECONOMY GROWS 4.7 % IN 3^RD  QUARTER OF CURRENT FISCAL

The Indian economy grew 4.7 per cent in the third quarter of this financial year. The growth was mainly due to improved performance in agriculture and services sectors. The country's gross domestic product (GDP) had expanded 4.8 per cent in the July-September quarter and 4.4 per cent in April-June.

According to official data released by the Central Statistics Office, CSO, on Friday growth in the first nine months from April to December was 4.6 per cent compared with 4.5 per cent in the same period a year ago.

The CSO, in its advance estimates, puts GDP growth at 4.9 per cent. Farm sector output expanded 3.6 per cent in October-December as compared with 0.8 per cent in the corresponding period of the previous financial year.

The growth in manufacturing sector however declined to 1.9 per cent in the third quarter as against a growth of 2.5 per cent a year ago. The output of the sector also contracted 0.7 per cent in the first nine months.

Growth in electricity, gas and water supply was 5 per cent compared with 2.6 per cent a year earlier.