GDP shows 8.4 pct growth in Oct-Dec 2007

New Delhi, Feb 29 (UNI) India's Gross Domestic Product (GDP) for October-December 2007-08 was today pegged at Rs 8,24,075 crore against Rs 7,60,386 crore in the corresponding quarter of 2006-07, recording a growth rate of 8.4.

The financing, insurance, real estate and business services at 11.6 per cent, the communication sector at 11.3 per cent, and manufacturing sector at 9.3 per cent registered significant growth in Q3 of 2007-08 over the corresponding period of 2006-07.

According to the information furnished by the Department of Agriculture and Cooperation (DAC), in Q3 of 2007-08, the crops -- rice, coarse cereals and pulses during the Kharif season of 2007-08 recorded growth rates of 1.7 per cent, 11.7 per cent, and 20.1 per cent respectively -- over the same season in the previous agriculture year.

The growth rate in agriculture, forestry and fishing, and mining and quarrying lagged behind at 3.2 per cent and 4.9 per cent respectively in this period.

The Index of Industrial Production (IIP), the index of mining, manufacturing and electricity, showered growth rates of 4.7 per cent, 8.8 per cent and 4.6 per cent, respectively in October-December 2007 compared to 6.9 per cent, 11.8 per cent and 9.2 per cent in these sectors in Q3 of 2006-07.

The key indicators of the construction sector, namely, cement and finished steel grew by 5.1 per cent and 4.3 per cent, respectively during this quarter compared to 9.7 per cent and 10.1 per cent, respectively in Q3 of 2006-07.

Among the services sectors, the net tonne kilometers and passenger kilometers in the Railways logged growth rates of 8.6 per cent and 6.2 per cent respectively in Q3 of 2007-08 while in the transport and communication sectors, the production of commercial vehicles, cargo handled at major ports, cargo handled by the civil aviation, passengers handled by the civil aviation and the total stock of telephone connections (including WLL and cellular) registered growth rates of 8.6 per cent, 9.6 per cent, 13.4 per cent, 17.7 per cent and 43.6 per cent, respectively in Q3 of 2007-08 over the previous year's quarter. Aggregate bank deposits, and bank credits grew by 23.6 per cent, and 21.4 per cent, respectively in Q3 of 2007-08 over Q3 of 2006-07.

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