India GDP for second quarter 2015-16 grows at 7.4%; manufacturing spikes 9.3%

India's GDP for the second quarter of 2015-16 is 7.4%, slightly more than 7.1% growth observed in the first quarter.

Zee Media Bureau

New Delhi: India's Gross Domestic Product for the second quarter (July-September) of 2015-16 grew at 7.4%.

The Central Statistics Office, Ministry of Statistics and Programme Implementation released the estimates of Gross Domestic Product (GDP) for the second quarter of 2015-16 on Monday. "GDP at constant (2011-12) prices in Q2 of 2015-16 is estimated at Rs 27.57 lakh crore, as against Rs 25.66 lakh crore in Q2 of 2014-15," said the government release. 

According to the data released, the economic activities which registered growth of over 7.0 percent in Q2 of 2015-16 over Q2 of 2014-15 are ‘trade, hotels and transport & communication and services related to broadcasting’, 'financial, insurance, real estate and professional services' and ‘manufacturing’.

Manufacturing grew at 9.3% against 7.9% seen same time last year.

The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘electricity, gas, water supply & other utility services, ‘construction’  and 'public administration, defence and other services’  is estimated to be 2.2 per cent, 3.2 percent, 6.7 per cent,  2.6 per cent and 4.7 per cent, respectively, during this period.

Considering the momentum of economic reforms and the pace of economic activity expected, analysts and economists estimate the GDP in Q3 and Q4 to be  7.5% and 7.9% respectively. They expect the overall GDP for 2015-16 to be 7.6%.

When do you see India achieving double digit growth? in Business on LockerDome