Latest report of the government data states that, India will grow by 7.6% in the year 2015-16. The country's "real" or inflation-adjusted the gross domestic product (GDP) whereas the growth in the previous three month was going too slower by 7.3% during October and 7.4% in December, this data was released by the Central Statistics Office (CSO).
"The direction of the numbers is very positive. The policy and reform measures the government has undertaken in last one-and-a-half years are beginning to show results," economic affairs secretary Shaktikanta Das said.
Finance minister Arun Jaitley would be presenting the annual budget for 2016-17 on February 29, also he would announce measures to boost investment and create jobs.
Last year experienced a tremendous growth in the sector of manufacturing as the growth rate went up from the 5.5% to 9.5%.
"The surprisingly robust pickup in manufacturing growth in the third quarter (October to December) relative to the second quarter (July to September) belies the trends available from various high frequency volume-based indicators, including the index of industrial production (factory output) for October-November 2015," said Aditi Nayar, senior economist at ICRA Limited, a credit rating and research firm.
Growth in capital goods imports, a proxy for investment activity, has decelerated sharply from about 12% in April 2015 to barely positive territory.