KACHARAGADLA

With such a high growth number, India outpaces China - giving PM Modi more reasons to celebrate after completing two years in office last week India’s gross domestic product (GDP) grew 7.6 per cent in 2015-16, up from 7.2 per cent a year ago. The full-year growth was fuelled by close to eight per cent growth rate in the fourth quarter of 2015-16, the fastest in the world for the January-March quarter and FY16 since the new GDP series was launched in 2011-12. With such a high growth number, India has managed to retain its tag of the world’s fastest growing major economy — outpacing even China — giving Prime Minister Narendra Modi more reasons to celebrate after completing two years in office last week. ALSO READ:  FY16 fiscal deficit target met Though the annual growth rate remained the same, quarterly economic expansion changed in 2015-16 between the actual data that was released on Tuesday and advance estimates. The GDP grew 7.5 per cent in the first quar

Sharp pick-up in refinery products and electricity generation led to the fifth straight increase in April Growth in the eight core sectors jumped to 8.5 per cent in April, due to a sharp pick-up in refinery products and a commensurate rise in electricity generation. The index had grown by 6.4 per cent in March. According to data released by the ministry of commerce and industry on Tuesday, growth in the eight sectors— coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — comprising nearly 38 per cent of India's total industrial production, had fallen a marginal 0.2 per cent in the same period of the previous year. Refinery products, which have steadily grown since December 2015, had output rising 17.9 per cent in April, after 10.8 per cent in March. Electricity generation rose for a fifth straight month, up 14.7 per cent, after 11.3 per cent in March. Four sectors in March showed double-digit growth; it was two in April. G

For FY17, the deficit target is 3.5 per cent of GDP The country’s fiscal deficit for 2015-16 was Rs 5.32 lakh crore, about 99.5 per cent of the government’s revised target of Rs 5.35 lakh crore, compared with 99.6 per cent for the same period a year before, official data showed on Tuesday. As a percentage of gross domestic product at current prices, also issued on Tuesday, the deficit was 3.9 per cent, as Finance Minister Arun Jaitley had said it would be in February. For FY17, the deficit target is 3.5 per cent of GDP. For the year ended March 2016, the provisional figure of combined revenue was Rs 1.24 lakh crore or 99.2 per cent of the revised target of Rs 1.25 lakh crore, compared with 98.7 per cent of the full-year target a year before. Total expenditure was Rs 1.77 lakh crore or 99.3 per cent of the revised target, compared with 99 per cent for the same period last year.  Total expenditure was Rs 1.61 lakh crore, or 8.2 per cent of the full-year estimate, com