India’s economy expanded by 5.7% during the first quarter (April-June) of 2014-15, higher than the 4.6% recorded in the previous quarter and also the fastest growth in more than two years. The policy initiatives taken by the newly elected National Democratic Alliance (NDA) government at the centre seem to have re-energized the economy. Manufacturing and mining sectors also rebounded in the first quarter of 2014-15 from their declining trends during the past few quarters.
Current Account Deficit (CAD) narrowed sharply to 1.7% of the Gross Domestic Product (GDP) in first quarter 2014-15 from 4.8% of the GDP during the previous year, primarily because of a steep decline in gold imports and a rise in exports as the Rupee remained weak post its devaluation last year.
Source : Cushman & Wakefield