The Indian economy grew 4.7 per cent in the third quarter of this financial year mainly due to improved performance in the 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.
Growth in the first nine months (April-December) was 4.6 per cent compared with 4.5 per cent in the same period a year ago. The economy had expanded 4.4 per cent in the third quarter of 2012-13, according to official data released here today by the Central Statistics Office (CSO).
Given the performance in the first nine months and GDP growth of 4.9 per cent projected by the CSO in its advance estimates for this financial year, the economy must expand 5.7 per cent in the fourth quarter ending March. Farm sector output expanded 3.6 per cent in October-December compared with 0.8 per cent in the corresponding period of the previous financial year.
The sector grew 3.6 per cent in April-December. The manufacturing sector declined 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 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 and it touched 5.5 per cent in the April-December period.
The construction sector expanded 0.6 per cent as against 1 per cent in the year-ago period. During April-December, the sector grew 2.5 per cent.
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