India's GDP grows by 8.6 pc in Q3 of 2006-07

New Delhi, Feb 28 (UNI) India's Gross Domestic Product (GDP) grew by 8.6 per cent from Rs 7,56,296 crore in the third quarter of 2006-07 against Rs 6,96,146 crore in the same period last year.

According to a statement issued by the Government, the sectors which saw significant growth were mining and quarrying at 5.7 per cent, trade, hotels, transport and communication at 13 per cent, financing, insurance, real estate and business services at 11.6 per cent and manufacturing at 10.7 per cent.

However, the GDP estimates from agriculture showed declining production of rice, coarse cereals and oilseeds sector by 1.1 per cent, 8.3 per cent and 18.2 per cent respectively, as per the information given by the Department of Agriculture and Cooperation (DAC), though production of pulses rose by 7.6 per cent during the kharif season compared to the same period of 2005-06.

Production of cotton and sugarcane was slated to be up at 13.3 per cent and 12.2 per cent respectively.

Among the services sector, the performance indicators of Railways namely net tonne kilometers and passenger growth rates rose by 8.5 per cent and 7.5 per cent respectively during this quarter.

UNI