Mukherjee says G.D.P will stand at 8.6 percent
February 7th, 2011 - 4:55 pm ICT by ANI
New Delhi, Feb 7 (ANI): Union Finance Minister Pranab Mukherjee on Monday said that India’s Gross Domestic product (GDP) for fiscal 2010-11 would stand at 8.6 per cent.
When compared to the previous year in which GDP stood at eight per cent, the point six per cent increase is attributed to smart recovery in farm output as well the growth rate of over 8 per cent in sectors such as manufacturing, construction, trade, hotels, transport and communication, financing, insurance, real estate and business services.
This GDP growth is higher than what the Reserve Bank Of India (RBI) and the Finance Ministry had predicted earlier.
According to data released, agriculture and allied activities are projected to grow by 5.4 per cent this fiscal as against 0.4 per cent a year ago.
Mukherjee has said that the economy would grow by 8.5 per cent despite rising inflation.
The Reserve Bank of India( RBI) had projected that the economy would expand by 8.5 per cent in it’s quarterly monetary policy review last month.
The growth in this fiscal is likely to be driven by 8.8 per cent in the manufacturing sector, the same as in the pervious year.
According to the advance estimates, mining and quarrying is likely to grow by 6.2 per cent, while electricity, gas and water production will grow up by 5.1 per cent. (ANI)
- Plan panel expects GDP growth in 2011-12 to slip from 8.5 percent (Lead) - May 31, 2011
- Indian economy grows slowest in six quarters (Roundup) - Aug 30, 2011
- India economy to expand 8.6 percent this fiscal (Roundup) - Feb 07, 2011
- Economy to grow by 8.6 percent this fiscal: Pranab - Feb 10, 2011
- India predicts 8.6 percent growth this fiscal - Feb 07, 2011
- India economy to expand 8.6 percent this fiscal (Lead) - Feb 07, 2011
- Rate pause will help regain growth momentum: Pranab - Dec 16, 2011
- RBI hikes key rates by 0.25 percent to curb inflation - Jan 25, 2011
- Growth to dip below 8 percent after slow first quarter: Industry - Aug 30, 2011
- GDP growth may slow to 7.3 percent in 2011-12: Pranab - Nov 30, 2011
- Economic growth revised upwards to 7.1 percent - Feb 22, 2012
- India downgrades 2011-12 economic growth to 7.5 percent - Dec 09, 2011
- India's economy grew 8.5 percent last fiscal - May 31, 2011
- Indian economy may grow at 8 percent in 2012-13: Rangarajan (Lead) - Feb 22, 2012
- Indian economy grows 8.2 percent in third quarter - Feb 28, 2011
Tags: bank of india, business services, construction trade, electricity, finance ministry, gdp, gdp growth, gross domestic product, inflation, manufacturing sector, monetary policy, New Delhi, point six, pranab mukherjee, previous year, rbi, reserve bank of india, smart recovery, union finance minister, water production