Govt revises 2009-10 economic growth upwards to 8 pc

Written by: Pti
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New Delhi, Jan 31 (PTI) The Indian economy grew at 8 percent during the financial year ended March 2010, higher than7.4 per cent estimated earlier, driven by stronger performancein manufacturing and services sectors.

The higher expansion suggests that India is recoveringfast from the impact of the global financial crisis, whichpulled down the GDP to 6.8 per cent during the fiscal 2008-09,from over 9 per cent recorded in the preceding three years.

Although a higher growth in 2009-10 will have adversestatistical impact on the performance of the current fiscaldue to high base effect, economists feel that 2010-11 willstill record a growth rate of 8.5 per cent.

"The growth rate of 8 per cent in the GDP during 2009-10has been achieved due to high growth in manufacturing (8.8per cent), financing, insurance, real estate

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