In the last quarter, India's GDP grew "only" by 7,8%. Fiscal year closes at +8,5%

The Indian economy grew less than expected in the quarter ended March 31 last year, stopping at 7,8% yoy. Analysts' expectations were concentrated around a figure slightly above 8%. The manufacturing sector grew by 5,5%, while the output of the agricultural sector on which the lives of hundreds of millions of Indians depend expanded by 7,5%. The data released this morning by the New Delhi government also allow for a first estimate of growth for the 2010-2011 fiscal year (which begins in April and ends in March) which stands at 8,5%, a tenth of a point less compared to expectations.