India economy grew at 4.7 percent in 2013-14

The Indian economy grew at 4.7 percent in the entire 2013-14 financial year, marking a second straight year of below 5 percent growth, official data released Friday showed.

The expansion was slower than an official estimate of 4.9 percent and higher than 4.5 percent growth a year earlier.

According statistics released by the Central Statistics Office, the gross domestic product grew at 4.6 percent in the fourth quarter (January-March) of the last fiscal.

Growth was affected by poor performance in mining and manufacturing during the January to March period.

The fiscal deficit during the 2013-14 fiscal year was Rs.5.08 trillion ($86.08 billion)), or equivalent to 4.5 percent of the country's GDP.

 

It is lower than the revised estimate of 4.6 percent provided by the government during budget in February.