Union government’s data shows that IndiaÂ’s economy expanded 4.8 per cent in July-September, the fourth straight quarter of sub-5 per cent growth. The major drags for this were slower expansion of government-supported services and continued contraction in the country’s mining sector.
However,4.6 per cent growth in agriculture after just 2.7 per cent in the previous quarter provided comfort to the country. Gross domestic product (GDP) had grown 5.2 per cent in the same quarter of the previous financial year.
In the second half of the year, growth would pick up further and take the overall expansion in 2013-14 up to 5-5.5 per cent, the Union Finance Ministry asserted. For the first half of the year, growth slowed to 4.6 per cent as against 5.3 per cent in the year-ago period.
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