(MENAFN) Official data showed that Indian economy grew by 5.3 percent in the July-September quarter, or the second quarter of the current fiscal, Xinhua reported.
Central Statistics Office said the growth was led by the output of social services which scored 9.6 percent, financial sector with 9.5 percent and utilities like electricity and water with 8.7 percent.
The manufacturing growth was only 0.1 percent, which could push the central bank, the Reserve Bank of India, to lower interest rates when it reviews the monetary policy, said analysts.
On a quarterly basis, India's economy grew by 5.7 percent in the April-June quarter, which parallels with first quarter of this fiscal, the data showed.
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