India’s economy grew 8.8 percent in the March quarter from a year earlier, led by strong expansion in the services sector, and the pace of growth was faster than market expectations.
The annual growth for India’s fiscal fourth quarter was higher than the median forecast in a Reuters poll of 8.2 percent, and matched an upwardly revised 8.8 percent in the October-December quarter.
That left full fiscal-year growth at 9.0 percent and showed growth was still robust despite tightening of monetary policy and strengthening of the currency in 2007.
The government had earlier estimated annual growth of 8.7 percent for the whole of 2007/08.
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