Indian economy grew 8.9 percent July-September
By IANSTuesday, November 30, 2010
NEW DELHI - The Indian economy grew by 8.9 percent in the second quarter of this fiscal, latest data on gross domestic product (GDP) showed Tuesday, much above the forecasts and the government’s own expectations of 8.5 percent expansion this whole fiscal.
The expansion was indentical to the 8.9 percent growth logged during the first quarter and 0.2 percentage points above the 8.7 percent registered in the July-September period of the previous fiscal, data released by the Central Statistical Organisation showed.
The most impressive aspect within the national income data was the 4.4 percent growth logged by the farm sector during the second quarter as opposed to a mere 0.9 percent in the like period of last year.
The output of manufacturing was up 9.8 percent, while trade and communications expanded 12.1 percent during the quarter under review. This apart, the construction industry grew 8.8 percent, financial services 8.3 percent and mining 8 percent.
