Indian economy has grown by 7.3% during the financial year 2015 as against government's target of 7.4%. During the March 2015 quarter, gross domestic product (GDP) growth stood at 7.5%, which was higher than the third quarter. The government has revised growth for the December 2014 quarter to 6.6% from earlier estimate of 7.5%.   

GDP in the year 2014-15 was at Rs 106.44 trillion at constant (2011-12) prices compared with Rs 99.21 trillion in the last year. The sectors which registered growth rate of over 7% are 'trade, hotels, transport, communication and services related to broadcasting', 'financial, real estate and professional services', 'electricity, gas, water supply & other utility services', 'public administration, defence and other services' and 'manufacturing'. The growth in the 'agriculture, forestry and fishing', 'mining and quarrying' and 'construction' was 0.2%, 2.4% and 4.8% respectively. 

For the fourth quarter of 2014-15, GDP was Rs 28.74 trillion at constant (2011-12) prices as against Rs 26.73 trillion in the same quarter last year. Trade, hotels, transport and communication led the growth with 14.1%, followed by financial, real estate and professional services (10.2%); manufacturing (8.4%); electricity, gas, water supply and other utility services (4.2%); mining and quarrying (2.3%); construction (1.4%) and defence and other services (0.1%). On the other hand, agriculture, forestry and fishing recorded a negative growth rate of 1.4%.

Private final consumption expenditure (PFCE) at constant (2011-12) prices was Rs 60.64 trillion in 2014-15 as against Rs 57.04 trillion in 2013-14. In terms of GDP, the rates of PFCE at constant (2011-12) prices during 2014-15 was at 57%, as against 57.5% in 2013-14.

Government final consumption expenditure (GFCE) at constant (2011-12) prices was Rs 11.58 trillion in 2014-15 as against Rs 10.86 trillion in 2013-14. In terms of GDP, the rates of GFCE constant (2011-12) prices during 2014-15 was 10.9% as against 10.9% in 2013-14.

Gross fixed capital formation (GFCF) at constant (2011-12) prices was Rs 31.92 trillion in 2014-15 as against Rs 30.50 trillion in 2013-14. In terms of GDP, the rates of GFCF at constant (2011-12) prices during 2014-15 was 30%, as against 30.7% in 2013-14.

Debopam Chaudhuri, chief economist and vice President of Research at ZyFin Research, said, 'GDP estimates for FY 14-15 were close to early estimates. It is encouraging to note a marginal rise in growth of PFCE from 6.2% in FY 13-14 to 6.3% in FY 14-15. With 57% of the GDP composed of private expenditure, a recovering PFCE (Private Final Consumption Expenditure) is vital for its future growth. With recovering consumer confidence, we can expect PFCE to improve further lending support to the Indian growth story.'