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Indian economy grew at sluggish 4.7 percent in Q3

Posted on Feb 28 2014 | IANS

New Delhi, Feb 28 : India's economy expanded at a sluggish 4.7 percent in the third quarter of the current financial year from 4.8 percent in the previous quarter, dragged down by contraction in the manufacturing and mining sectors, government data showed Friday.

According to data released by the Central Statistics Office (CSO), manufacturing output shrunk by 1.9 percent, while mining production contracted by 1.6 percent in October-December quarter of the current fiscal.

The services sector grew at 7 percent and the farm sector expanded by 3.6 percent during the quarter under review.

Quarterly GDP at factor cost at 2004-05 prices for Q3 of 2013-14 is estimated at Rs.14.8 lakh crore, as against Rs.14.1 lakh crore in the corresponding quarter of the previous year, a growth of 4.7 percent, the CSO said.

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