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India's gross domestic product (GDP) grew by 7.8% in the first quarter of the current fiscal year, compared to 6.1% in the previous quarter. The agriculture sector saw a growth of 3.5% while the manufacturing sector grew at a slower rate of 4.7%. Private consumption increased by 6%, and services sector growth was driven by financial services and trade. The Reserve Bank of India had predicted a growth rate of 8%. India remains the fastest-growing major economy, outpacing China.
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