JanMarch GDP grows 6.1 yy vs 5 in Reuters forecast
Manufacturing grows 4.5 yy vs 1.1 fall in OctDec
Economic growth for 202223 revised to 7.2 from 7

NEW DELHI, May 31 Reuters India39;s economic growth accelerated to 6.1 in the March quarter, government data showed on Wednesday, boosted by government and private capital spending even as private consumption remained sluggish.

Wednesday39;s reading showed India remains one of the fastest growing emerging economies, especially with China39;s recovery stumbling.

The government expects growth could remain around 6.5 in the current fiscal year, despite risks emerging from a global slowdown.

The risks are evenly balanced between the downside and the upside, V. Anantha Nageswaran, chief economic adviser at the finance ministry, told reporters after the data release.

He said indicators such as auto, steel and power consumption for April showed a pickup in activity and a sustained growth momentum.

Asia39;s thirdlargest economy expanded faster than the forecast of 5.0 by economists in a Reuters poll in the last quarter of the 202223 fiscal year through March, up from a revised 4.5 in the previous quarter.

The fullyear growth estimate was revised to 7.2 from an earlier estimate of 7. India39;s economy grew 9.1 in 202122.

Economists, however, warned that the global slowdown and volatility in financial markets pose a risk to exports and the growth outlook in coming quarters.

The growth outlook is not without risks…