Indian economy grows by 6.7 pc in FY09

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Indian GDP
New Delhi, May 29: India's Gross Domestic Product (GDP) for the fourth quarter of the current fiscal grew to 5.8 percent as against 5.3 pc in the corresponding quarter the previous year.

However, GDP for the current fiscal 2008-09 as a whole was down 6.7 per cent versus the earlier projection of 7.1 per cent. GDP for the previous fiscal ws 8.8 per cent.

Manufacturing sector performed badly and was down 1.4 pc year-on-year, while farm sector growth was 2.7 pc in the quarter under review, versus 0.8 pc in Q3. Manufacturing for the full year has been revised to 2.4 per cent against the earlier projection of 4.1 per cent, while farm sector growth is pegged at 1.6 per cent

Construction grew an annual 6.8 pc in Jan-Mar as against the growth of 4.2 pc in Oct-Dec. Trade, hotels, transport and communication grew 6.3 percent in Jan-March from a year earlier vs 5.9 percent in Oct-Dec.

An annual growth of 9.5 pc was seen in finance, insurance, real estate and business services in Jan-Mar as against 8.3 pc in Oct-Dec.

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