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Manufacturing pushes GDP growth to 8.6% in Q4

Source: PTI
Last updated on: May 31, 2010 13:35 IST
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Driven by a robust performance by the manufacturing sector, the Indian economy grew by 8.6 per cent in the last quarter of 2009-10, pushing up the overall growth to a better-than expected 7.4 per cent.

The manufacturing sector grew by 16.3 per cent in the fourth quarter (January-March 2009-10) and 10.8 per cent in the fiscal.

The Gross Domestic Product grew at 7.4 per cent for 2009-10, higher than the February projection of 7.2 per cent.

The Central Statistics Organisation also revised upwards the growth rates for Q2 and Q3 of 2009-10 on better-than-expected performance by manufacturing, mining and quarrying industries than first thought.

There was no decline in agriculture growth in 2009-10, despite widespread drought and floods hitting the farm output.

According to the CSO data, the farm sector recorded a growth rate of 0.2 per cent contrary to expectations of negative growth.

Following the global financial crisis, the GDP had moderated to 6.7 per cent in 2008-09 after recording a growth rate of 9 per cent in the three preceding years.

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