Strong rebound in second half drives India's growth rate upwards

India saw a strong rebound in the third and fourth quarter especially from industry which is leading to high growth rate. Dr. C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister released the document ‘Review of the Economy-2009-10’ at a Press Conference in New Delhi.

The outcome in the farm sector much better than feared earlier in part due to proactive measures by government. The Projected growth is 7.2% in 2009/10, 8.2% in 2010/11 and 9.0% in 2011/12.

In 2009/10 agriculture saw growth of -0.2 % (1.6% in 2008/09) and industry (including construction) saw robust growth of 8.6% (3.9% in 2008/09). The Services sector growth slowed to 8.7 % (9.8% in 2008/09).

The growth may be even higher than 7.2%, driven by strong revival in manufacturing and construction.

Source : Equity Bulls

Keywords