Economy grows 7.2% in Oct-Dec quarter

Economy grows 7.2% in Oct-Dec quarter

Economy grows 7.2% in Oct-Dec quarter

Beating all estimates, India's economy grew 7.2% in the October-December quarter to once again become the world's fastest-growing economy backed by a handsome expansion in almost all the sectors barring mining which contracted.

While agriculture sector posted a growth of 4.1% in the December quarter from a contraction of 1.7% in the September quarter, manufacturing grew at 8.1% and construction at 6.8%, the official data said. Construction is the second largest employer after agriculture in the country.

The country's first chief statistician Pronab Sen said the growth in the construction sector in the quarter under review was encouraging as it showed the government's spending on infrastructure sector was showing results.

The growth revival in manufacturing sector showed the demonetisation woes no longer existed in the economy.

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