Apr-Jun GDP up 6.1% from a yr earlier August 31, 2009
Posted by dhirendra1972 in Erode Economic Growth, Poor Monsoon, Slightly Grew.Tags: Annual Growth, Crimp Growth, Economic Growth, Economy, India’s Economy, Inflation, Manufacturing Sector, Median Forecast, Monsoon, Spur Demand, Stimulus Measure
add a comment
Good morning friends. India’s economy grew a slightly faster than expected 6.1 percent in the June quarter from a year earlier, as Government stimulus measures helped spur demand, although a poor monsoon threatens to crimp growth later in the year even as it drives inflation.
The annual growth for India’s fiscal first quarter was just above a median forecast of 6 percent in a Reuters poll, but lower than the year-ago quarter’s 7.8 percent expansion.
The manufacturing sector expanded 3.4 percent in April-June from a year earlier, while farm output grew an annual 2.4 percent, government data showed on Monday.
For the full year, India’s economy grew 6.7 percent in 2008/09, much slower than its expansion of 9 percent or more in the previous three years.
Economists have said poor monsoon rains could erode economic growth by 1 or 2 percentage points in the current fiscal year, although the central bank said last week that dry conditions are more likely to drive inflation than erode growth. – Indian Express
