India's GDP for December quarter grows at 7.3%

Zee Media Bureau

New Delhi: Backed by a strong growth in manufacturing and mining sectors, India's economy grew by 7.3 percent in the third quarter ended December 2015.

The government, however, expressed confidence and forecast the annual economic growth to accelerate to 7.6 percent in the fiscal year ending March 2016.

The government also revised the growth rate for the period of July-September (Q2) to 7.7 percent against the previous of 7.4 percent.

At 7.7 percent growth in the second quarter, India had overtaken China.

The 7.3 percent in the third quarter was backed by a strong 12.6 percent growth in the manufacturing sector, 6.5 percent in mining.

Other sectors that added to the growth were construction (4 percent), public adminstration, defence (7.5 percent), trade, hotel and transportation (10 percent), electricity, gas and water supply at 6 percent.

The agricultural sector however grew by (-) 1 percent.