9.3% GDP Q1 growth satisfactory, productive sectors to get credit:

New Delhi, Aug 31 (UNI) Lauding the continuing high economic growth, Finance Minister P Chidambaram today said the 9.3 per cent in the April-June quarter was satisfactory, and assured that credit flow to productive sectors would remain firm.

"Despite compulsions of a tight monetary policy, we will ensure that credit flow to the productive sectors of the economy remains strong," Mr Chidambaram told reporters here.

Data released here this morning showed that Indian economy in the April-June quarter grew at 9.3 per cent y-o-y basis. The GDP growth was driven by robust manufacturing and services growth.

Mr Chidambaram described the GDP growth of 9.3 per cent in Q1 as 'satisfactory.' Manufacturing grew by 11.9 per cent in the April-June quarter, lower than the 12.4 per cent in the previous Quarter.

Services grew at an annual pace of 10.6 per cent, while agriculture, grew by 3.8 per cent, the same as the previous quarter's growth rate.

UNI