India's Q2 GDP growth improves to 7.3% vs 7.1% in Q1

Zee Media Bureau

New Delhi: Showing signs of recovery, India's economic growth rate improved to 7.3 percent in July-September compared to 7.1 percent in April-June.

The economy had expanded at 7.6 percent during the same period of last financial year, 2015-16.

Farm output grew 3.3 percent year-on-year during the quarter, faster than 1.8 percent in the quarter through June. Manufacturing slowed in the September quarter, posting an annual growth of 7.1 percent compared with 9.1 percent in the previous quarter.

Besides, infrastructure sector recorded a growth rate of 6.6 percent in October -- the highest in last six months -- on the back of impressive performance by steel and refinery products.

However, growth rate of power generation, fertiliser production and cement output fell considerably on year-on-year basis. Coal production continued to fall for the third straight month.

The growth rate of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- was 3.8 percent in October 2015. It was 5 percent in September 2016.

The core sectors, which contribute 38 percent to the total industrial production, expanded by 4.9 percent in April-October compared to 2.8 percent growth in the similar period of last financial year.