India's economy grew 7.4% in the year ended March, aided by strong performances in the industrial and service sectors, official data showed today.
The figure was marginally above the government's forecast of 7.2%. The manufacturing sector grew by 10.8% in the year, the construction and utilities sectors by 6.5% each, while the transport and communications sector jumped 9.3%, data released by the Central Statistical Organisation showed.
For the fourth quarter of the financial year, India's GDP grew at 8.6% year-on-year, lagging behind economists' forecasts.
Indian finance minister Pranab Mukherjee said he expected the Indian economy to grow 8.5% in the current fiscal year to March 2011.
