New Delhi, Aug 31 (ANI): Finance Minister Pranab Mukherjee on Tuesday expressing confidence said the Indian economy has grown at a three-year-best, and has risen 8.8 percent in the April-June quarter due to an upswing in the manufacturing sector and a better farm output.
"It is 8.8 percent in the first quarter of GDP (gross domestic product) growth. I am quite happy because I have all around maintaining that the growth would not be less than eight and half percent. It is more encouraging because 12.4 percent is in the manufacturing sector," said Mukherjee."Agricultural growth was expected that it would be slow because of the adverse impact on monsoon in the last Kharif season and its delayed impact. We have made up some in the Rabi (winter crop) that got reflected in the 2.8 percent GDP growth in agricultural sector," he added.
Mukherjee expressed hope to achieve a better GDP score by the end of the current fiscal.
"I am optimistic that it would be less than the projection which we had made in the economic survey anywhere between 8.5 to 8.75 percent, but it may be at the end of the year taking all other quarters, three more quarters, taking into account it will come later on, we may achieve a little more," said Mukherjee.
India's June-quarter manufacturing output jumped 12.4 percent on year compared with a revised annual rise of 3.8 percent in the previous year.
Its farm sector expanded 2.8 percent and is expected to see robust growth on good monsoon rains, which is likely to further boost consumer demand by lifting rural income. (ANI)