Farm, services sector push economic growth to 8.2% in Q3

Written by: Pti
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New Delhi, Feb 28 (PTI) Driven by good performance ofagriculture and services sector, the Indian economy grew by8.2 per cent in the third quarter of the current fiscal, upfrom 7.3 per cent in the corresponding period a year ago.

According to the data released by the government today,farm sector during the third quarter ending December, recordeda growth rate of 8.9 per cent, up from a decline of 1.6 percent in the corresponding period a year ago.

The services sector, including financing, insurance, realestate and business services during the same period recordeda growth rate of 11.2 per cent as compared to 8.5 per centduring the same period last year.

Electricity, gas and water supply is another sector thathas done well as it grew at the rate of 6.4 per cent in thirdquarter compared to 4.5 per cent in the same period lastfiscal.

Mining and quarrying growth jumped to 6 per cent inthird quarter from 5.2 per cent in the same three-month periodlast fiscal.

Manufacturing and construction activity has slowed down,growing at pace of 5.6 and 8 per cent cent, respectively, inthe three- month period as against 11.4 and 8.3 per centrespectively in the corresponding quarter.

The government expects the growth to top 8.5 per cent inthe current fiscal. The growth rate for the first and secondquarters was unchanged at 8.9 per cent each.

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