Growth in the Second Quarter of the Current Financial Year 2014-15 has Been Broadly on the Expected Lines: Finance Ministry

The Ministry of Finance observes that the growth in the Second Quarter of the current Financial Year 2014-15 has been broadly on the expected lines. Making its observation on the estimates of GDP for Q2 for 2014-15 released today, the Ministry states that in view of lower than expected monsoon in the current year vis-?-vis a good monsoon in 2013-14, lower growth in agriculture sector was expected. Similarly, in view of slower growth of IIP in the second quarter vis-?-vis the first quarter and in particular the manufacturing component; a lower growth in industry sector vis-?-vis the first quarter is not surprising, the Ministry added.