India's GDP grows by 7.3 percent in 2014-15

The Indian economy grew by 7.3 percent during 2014-15 from the 4.7 percent increase in the previous fiscal, government data showed on Friday.

The gross domestic product (GDP) -- which is a measure of the total value of goods and services produced in the country -- broke the sub-five percent growth barrier after the last two consecutive years.

According to the ministry of statistics and programme implementation, the GDP at constant (2011-12) prices in the financial year 2014-15 is now estimated at Rs.106.44 lakh crore -- showing a growth rate of 7.3 percent over the 2013-14 figure of Rs.99.21 lakh crore.

In 2012-13, the GDP climbed by 4.5 percent.

The data also showed that the economy expanded by 7.5 percent in the fourth quarter of 2014-14, from 6.6 percent rise in the September-December quarter.

The GDP had increased by 8.4 percent and 6.7 percent in the second and first quarters of 2014-15, respectively.