News: Indian economy grows by 8.9 pc
(PTI 29/09/2006) New Delhi - The Indian economy grew by 8.9 per cent in the first quarter (April-June) of this fiscal, compared to 8.5 per cent last year.
Inflation declined to 4.56 per cent for the week ended September 16 from 4.61 per cent in the previous week. It was mainly due to lower prices of food items and industrial fuel.
The wholesale price based inflation stood at 4.17 per cent during the corresponding week last year.
The economy grew on the back of a strong growth in manufacturing and services sectors.
While agriculture remained stagnant at 3.4 per cent during April-June 2006-07, manufacturing sector rose 11.3 per cent in the first three months of the current fiscal as against 10.7 per cent in the same period of 2005-06, according to government data released on Friday.
In the services, trade, hotels, transport and communications sector showed the highest growth of 13.2 per cent in the first quarter compared to 11.7 per cent in the year-ago period.
The construction sector, however, slowed down to 9.5 per cent this year from 12.5 per cent, while growth in electricity, gas and water supply slipped to 5.4 per cent from 7.4 per cent in April-June 2005-06.
The mining sector registered a growth of 3.4 per cent this fiscal compared to 3.1 per cent. Financing, insurance, real estate and business services grew marginally higher at 8.9 per cent as against 8.8 per cent, and community, social and personal services rose by 7.4 per cent from 7.3 per cent in the corresponding period of last year.
In rupee terms, GDP at factor cost stood at Rs 6,56,064 crore in the first quarter this fiscal as against Rs 6,02,476 crore in April-June 2005-06.
Inflation declined to 4.56 per cent for the week ended September 16 from 4.61 per cent in the previous week. It was mainly due to lower prices of food items and industrial fuel.
The wholesale price based inflation stood at 4.17 per cent during the corresponding week last year.
The economy grew on the back of a strong growth in manufacturing and services sectors.
While agriculture remained stagnant at 3.4 per cent during April-June 2006-07, manufacturing sector rose 11.3 per cent in the first three months of the current fiscal as against 10.7 per cent in the same period of 2005-06, according to government data released on Friday.
In the services, trade, hotels, transport and communications sector showed the highest growth of 13.2 per cent in the first quarter compared to 11.7 per cent in the year-ago period.
The construction sector, however, slowed down to 9.5 per cent this year from 12.5 per cent, while growth in electricity, gas and water supply slipped to 5.4 per cent from 7.4 per cent in April-June 2005-06.
The mining sector registered a growth of 3.4 per cent this fiscal compared to 3.1 per cent. Financing, insurance, real estate and business services grew marginally higher at 8.9 per cent as against 8.8 per cent, and community, social and personal services rose by 7.4 per cent from 7.3 per cent in the corresponding period of last year.
In rupee terms, GDP at factor cost stood at Rs 6,56,064 crore in the first quarter this fiscal as against Rs 6,02,476 crore in April-June 2005-06.
posted by InCar Group Press Room at 14:45
0 Comments:
Post a Comment
<< Home