India’s growth quickens most in 2 years
NEW DELHI – India’s economic growth accelerated at its fastest pace in more than two years, after the central bank refrained from raising interest rates, the Bloomberg news agency reported.
NEW DELHI – India’s economic growth accelerated at its fastest pace in more than two years, after the central bank refrained from raising interest rates, the Bloomberg news agency reported.
Gross domestic product rose 5.7 per cent in the three months ended June from a year earlier, the biggest gain since the quarter through March 2012 and compared with the 4.6 per cent in the previous quarter, the Central Statistical Office said.
Finance and insurance industries jumped 10.4 per cent in the quarter, while electricity and gas output increased 10.2 per cent, according to the statement. Manufacturing rose 3.5 per cent while farm output climbed 3.8 per cent. Mining grew 2.1 per cent.
Gross fixed capital formation, a gauge of asset creation, rose 7 per cent.
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