Indian economy grows by 6.1 pc in Q1, against 7.1% a year ago
he country managed a reasonable economic growth of 6.1 pc during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and certain services like hotels.
The Gross Domestic Product (GDP) growth rate during April-June 2009 at 6.1 percent was higher than 5.8 percent in the previous quarter, though it witnessed a decline when compared to 7.8 percent economic expansion recorded during the corresponding period of the last fiscal.
The government and Reserve Bank have been maintaining that the Indian economy will grow by six percent growth with upward bias.
If agriculture growth does not crash and this trend continues, growth this fiscal would be in line with the expectations of the authorities.
Mining and electricity among industrial sector, and financing among services sector posted higher growth of 7.9, 6.2 and 8.1 percent, respectively, in the first quarter of this fiscal, against 4.6, 2.7 and 6.9 percent a year ago.
Construction and community services also managed good growth of 7.1 and 6.8 percent against 8.4 and 8.2 percent, respectively.
However, agriculture and manufacturing expanded at a slower rate of 2.4 and 3.4 percent against three and 5.5 percent, respectively.
Growth in services like hotels, trade, transport and communication was significantly lower at 8.1 percent against 13 percent.
The Gross Domestic Product (GDP) growth rate during April-June 2009 at 6.1 percent was higher than 5.8 percent in the previous quarter, though it witnessed a decline when compared to 7.8 percent economic expansion recorded during the corresponding period of the last fiscal.
The government and Reserve Bank have been maintaining that the Indian economy will grow by six percent growth with upward bias.
If agriculture growth does not crash and this trend continues, growth this fiscal would be in line with the expectations of the authorities.
Mining and electricity among industrial sector, and financing among services sector posted higher growth of 7.9, 6.2 and 8.1 percent, respectively, in the first quarter of this fiscal, against 4.6, 2.7 and 6.9 percent a year ago.
Construction and community services also managed good growth of 7.1 and 6.8 percent against 8.4 and 8.2 percent, respectively.
However, agriculture and manufacturing expanded at a slower rate of 2.4 and 3.4 percent against three and 5.5 percent, respectively.
Growth in services like hotels, trade, transport and communication was significantly lower at 8.1 percent against 13 percent.
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