The economy grew 4.7 percent in the year-ago period. The economy grew at its highest pace since the fourth quarter of FY12.
The broad range for the Q1 GDP was 5.4-6 percent. The revival in the first quarter was expected to be led by industry. Manufacturing, coming off a low base, was expected to push industries and it did not disappoint. The manufacturing sector grew at 3.5 percent, against a 1.2 percent contraction year-on-year.
The mining sector too grew at 2.1 percent 2.1 percent versus -3.9 percent YoY. But all eyes were on agricultural growth, which was expected to disappoint considering the fact that the first quarter is generally a lean period for agriculture. But that too surprised on the positive – the sector grew at 3.8 percent versus 4 percent YoY
Agri Sector Growth At 3.8% Vs 6.3% (QoQ)
Financial Svcs Sector Growth At 10.4% Vs 12.9% (YoY)
Electricity Sector Growth At 10.2% Vs 3.8% (YoY)
Hotels Sector Growth At 2.8% Vs 3.9% (QoQ)
Construction Sector Growth At 4.8% Vs 1.1% (YoY)
Manufacturing Sector Growth At 3.5% Vs -1.4% (QoQ)