The figures were released yesterday and refer to the fiscal year 2015-2016, which ended in March. In the last quarter economic growth arrived at 7.9%. Leader is the service sector, followed by trade, tourism, manufacturing, transport
New Delhi (AsiaNews / Agencies) - India's economic growth boomed to 7.6% in fiscal year 2015-2016. The Asian country confirmed its continued expansion and record for fastest economy in the world, surpassing even China.
The economic data was released yesterday by the Central Statistics Bureau and reported that in the first three months of 2016, the fourth quarter of the fiscal year, growth touched a 7.9% threshold. In the previous quarter it was 7.2%.
Minister of Finance, Arun Jaitley, said that the world is looking for a "shoulder to rely on, now that the Chinese economy is in decline." Months ago, the same minister had announced that the growth in one sector in particular was rapidly expanding: that of services.
His predictions were confirmed. The sectors that registered an expansion greater than 7% were tax, real estate and professional services (10.3% growth); manufacturing (9.3%); trade, hotels, transport, communications and services related to broadcasting (9%); mining and quarrying (7.4%).
Agriculture, forestry and fishing grew by 1.2%, construction 3.9%. The electricity, gas, water supply and other utilities were up by 6.6%, as well as the field of public administration, defense and other services.