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Indian economy expands 4.8%, beats forecast

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Staff writer ▼ | November 29, 2013
Indian economyIndian economy has expanded at better-than-expected rate of 4.8% during second quarter of fiscal 2014. The market had forecasted growth for gross domestic product (GDP) at 4.7%.

GDP growth stood at 4.4% in the first quarter of current fiscal and 5.2% in the second quarter of fiscal 2013. Quarterly GDP at factor cost at constant 2004-05 prices for second quarter of 2013-14 is estimated at Rs 13.68 trillion as against Rs 13.05 trillion in the same period last year.

Financing, insurance, real estate and business services grew at 10%, followed by electricity, gas and water supply (7.7%); agriculture, forestry and fishing (4.6%); construction (4.3%) and trade, hotels, transport and communication (4%). On the other hand, mining and quarrying witnessed contracted 0.4% while manufacturing registered a subdued growth of 1%.

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