labels: economy - general
Economy grows at 8.0 per cent in July-Septnews
30 November 2005

New Delhi: India's economy grew at a scorching 8.0 per cent growth rate in April-September 2005 half year period, led by strong output in services and manufacturing, data showed today.

Analysts were surprised by the figures as they had expected growth to slow through the year because of high oil prices and suspected sluggish exports.

Government data revealed that manufacturing grew by an average of 9.2 per cent during the period despite a slowdown in the second quarter, while services continued to remain robust. Financial and real estate services grew 9.9 per cent in the first six months compared with the same period a year ago.

Recently Prime Minister Manmohan Singh predicted a 7.5 per cent growth for the current fiscal year through March 2006, and said the country should aim to accelerate the pace to 10 per cent in two to three years.

The PM said the government is giving a big push to agriculture, which has long been a drag on the broader economy and kept India from catching up to its main economic rival, China.

The RBI has forecast that the Indian economy will grow 7.0-7.5 per cent for the financial year ending on March 31, 2006, compared with 6.9 percent growth in 2004/05.



 search domain-b
  go
 
Economy grows at 8.0 per cent in July-Sept