India’s GDP grew by 8.4% in Q3 thanks to industrial & services sectors

News Snapshot:

The National Statistics Office, in its Second Advance Estimates, pegged the country’s growth at 7.6 percent, higher than the 7.3 percent growth projected in its First Advance Estimates. Double-digit growth in construction (10.7 percent), and a decent 8.5 percent growth in manufacturing boosted the annual growth estimates. Downward revision in previous year’s growth also contributed to a spurt in growth for this year. Surpassing all expectations by a wide margin, India’s GDP growth surged to 8.4 percent in the December quarter. The growth in Gross Value Added (GVA) however eased to 6.5 percent from 7.6 percent in the previous quarter....