India's GDP grew at a five-year high of 7.6% in 2015-'16, says Centre
The growth rates of 9.3% in the manufacturing sector and 2.3% in the farming sector were the main contributors to the economic spike in the fourth quarter.
The Indian economy grew at 7.9% in the fourth quarter of 2015-'16, according to data released by the Central Statistics Office. This was primarily because the manufacturing and farming sectors grew at 9.3% and 2.3%, respectively, in the fourth quarter. The overall GDP growth, thus, rose to a five-year high of 7.6% in the fiscal, reported PTI.
For the year 2015-'16, the CSO also revised the first quarter growth to 7.5% from 7.6%, the second quarter growth to 7.6% from 7.7% and the third quarter growth to 7.2% from 7.3%. In contrast, China's growth rate slipped to 6.7% in the first quarter of 2016, which is the slowest rate posted by the country in seven years, reported The Indian Express.