India's economy grows at fastest pace in a year in June quarter, monsoon risk seen

NEW DELHI, Aug 31 - India's economy grew at its quickest pace in a year in the April-June quarter, buoyed by strong services activity and robust demand, but a drier than normal monsoon season could restrain future growth.

"The push is provided by the services sector where both trade, transport and finance and real estate have grown by 9.2% and 12.1% in high base growth rates," said Madan Sabnavis, economist at Bank of Baroda.But most economists warned that dry conditions could hurt growth in the coming quarters. In the April-June quarter, private consumption, which accounts for nearly 60% of the economy, grew about 6% year-on-year, up from 2.8% in the March quarter, while manufacturing expanded 4.7%, compared with 4.5% in the previous three months.

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