India economy grew at a robust 9.3% in 1Q 2006

Keeping pace with China, India's economy grew at a strong 9.3% in the quarter ending March 31, fueled by surprisingly strong performance in farm production and growing consumer spending, according to the Ministry of Statistics and Program Implementation.

 

  • GDP for the fiscal year ending March 31 grew at 8.4%, above the initial estimates of 8.1%.
  • China's economy grew 9.9% in 2005 and is expected to maintain the strong pace this year.
  • The sectors which showed strong growth rates for the fiscal year ending March 31 are manufacturing (9.0 per cent); construction (12.1 per cent); trade, hotels, transport and communication (11.5 per cent); and financing, insurance, real estate and business services (9.7 per cent).
  • The growth rate in per capita income is estimated at 6.9 per cent during 2005-06.
  • The GDP at constant (1999-2000) prices in the fiscal year 2005-06 is now estimated at Rs.25,95,339 crore (USD $ 561 billion)
Economists and Industry digests the latest Indian GDP numbers: Global Insight: Economy of India Records Blistering Growth in Q4

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