New Delhi, Feb 10 (KNN) Signifying an improvement in the macro indicators, the economy is projected to grow at a much faster rate of 7.4% in the current fiscal as against 6.9% in 2013-14, according to the advance estimates for GDP calculation based on the new methodology.

Advance estimates:   Economy is likely to grow at a faster pace of 7.4% in the current fiscal as against 6.9% in 2013-14.   It grew by 7.5% in the October-December quarter of the current fiscal after a growth rate of 8.2% in the preceding quarter.

The GDP data released today showed that the economy grew by 7.5% in the September-December quarter of the current fiscal after a growth rate of 8.2% in the preceding quarter.
 
While growth in most sectors is estimated to have picked up from the previous year, there has been deceleration in three sectors namely agriculture, mining and trade, hotels, transport and communication.
 
According to Industry experts while change in the base year and an enlarged coverage for capturing economic activities has sure played a role in the projected enhanced growth rate, the growth rate of 7.4% for the year 2014-15 is a positive news for the economy. However, it has also been pointed that a large segments of the industrial sector are still facing muted demand and a sustained increase in GDP require both investment and consumption demand to move full speed ahead. (KNN/DB)