Eco grows fastest in 5 years at 7.6%

The country's economy grew 7.6% in 2015-16, the fastest in five years, while growth in the fourth quarter clocked 7.9%, keeping India ahead as the fastest growing major economy in the world.
The GDP data also brought cheers for the government, which has completed two years in office and is showcasing revival of the economy as a major achievement. India's 7.9% expansion in January-March (fastest in six quarters) is higher than China's 6.7% expansion in the same quarter. In October-December quarter Indian economy grew 7.2%. Growth was powered by strong expansion in the manufacturing and farm sectors, which posted a growth of 1.2% in 2015-16 compared to a contraction of 0.2% in the previous year. The growth in the farm sector was despite the impact of a drought. Policy makers lauded the improving health of public finances.
Economist said they expect a good monsoon to support improving growth in the months ahead.
But the numbers also showed some weak spots such as sluggish investment growth.

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