India's gross domestic product (GDP) grew 4.8 percent in the three months through September, or the second quarter of 2013-14 fiscal year, said Central Statistical Office (CSO) on Friday.
This is in line with most economists' expectations. GDP for the first quarter of the fiscal year had been reported at 4.4 percent. The GDP growth for the April-September period now stands at 4.6 percent.
This is the fourth successive quarter of economic growth below 5 percent, far below the desired 8 percent Indian government need to revive the nation.
According to released data, the manufacturing sector of the economy grew merely at 1 percent, while the services sector grew at 5.9 percent.
The overall GDP growth was pulled up by a strong performance in agriculture at 4.6 percent, followed by good showing in construction at 4.3 percent. Financing, insurance, real estate and business services grew 10 percent.
Trade, hotels, transport and communication grew 4 percent during the quarter.
Policymakers are confident that the Indian economy will grow 5- 5.5 percent in the current fiscal year.
Source: Xinhua
