Indian economy grows at 7.6 per cent in 2015-16

Indian economy grew at 7.9 per cent in the fourth quarter of 2015-16 taking the overall GDP growth to a five-year high of 7.6 per cent in the fiscal, mainly on account of good performance of manufacturing and farm sectors.

According to the data released by the Central Statistics Office (CSO), the manufacturing sector during the fourth quarter recorded a growth rate of 9.3 per cent while the farm sector grew at 2.3 per cent.

The CSO has also revised the Gross Domestic Product (GDP) growth rate for previous quarters of 2015-16 — 7.5 per cent for April-June, 7.6 per cent for July-September and 7.2 per cent for October-December.

The 7.6 per cent growth rate for 2015-16 is the same as projected by the CSO in its advance estimates of national income earlier in February this year.