India's economy growth rate hit a record high in two and a half years in the first quarter of the current fiscal year from April to June, reviving hope that it is back on good track.
The economy expanded by 5.7 percent during the first quarter to log the highest growth yet in nine quarters, official data showed Friday.
The GDP of the country grew 4.6 percent in the previous quarter from January to March, and by 4.7 percent in the equivalent quarter of last fiscal.
It is also the highest since the 6 percent increase logged during October-December quarter of 2011-12, said the Central Statistics Office.
The growth was buoyed by performance of mining, manufacturing and services sector, with manufacturing sector recording a growth of 3.5 percent as against a contraction of 1.2 percent the same period last fiscal.
The mining sector too grew by 2.1 percent compared a decline in production by 3.9 percent the year-ago period, while the highest growth rate was recorded by financial services sector at 10.4 percent, followed by electricity gas and water supply at 10.2 percent.
The construction sector expanded 4.8 percent in first quarter of this fiscal as against 1.1 percent growth in the year-ago period, while growth in the trade, hotels, transport and communications segment also increased to 2.8 percent in the first quarter compared with 1.6 percent in the same period of last fiscal.
The farm sector grew at 3.8 percent compared to 4 percent a year ago.