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Aug 30, 2014
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Economy grows 5.7%, clocks fastest growth in 2 yrs
The Indian economy expanded at its fastest pace in two-and-a-half years in the quarter ending June on the back of a turnaround in manufacturing as sentiment was boosted by the Narendra Modi government’s measures to help recover from the longest slump in a quarter of a century.Data released on Friday showed gross domestic product (GDP) grew by a better-than-expected 5.7% in April-June, sharply higher than 4.6% in the previous quarter, signalling a revival in the economy.Asia’s third-largest economy expanded by less than 5% for two straight years, because of policy logjams, project delays and a string of corruption scandals. But the government said the economy had turned the corner.
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http://www.hindustantimes.com
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