India’s GDP rebounds 5.7% in Q1

Propelled by manufacturing and services sectors, Indian economy grew an annual 5.7% in April-June, the first quarter of its fiscal 2014-15.
New data released by the federal statistics office shows the country’s GDP in the first quarter is the highest in nine quarters, or over two years.
The GDP in the previous quarter was 4.6%.
The sharp rebound in growth is expected to add to optimism and help the government rebut murmurs that it has been overcautious and postponed big bang reforms in the first three months of its term, a report published Saturday by The Times of India said.
However, several risks remain on the horizon for Asia’s third-largest economy. One of them is uncertain agricultural output due to poor rains this year.