31 August,2009 11:56 AM IST | | PTI
The country managed a reasonable economic growth of 6.1 per cent during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and certain services like hotels.
The Gross Domestic Product (GDP) growth rate during April-June 2009 at 6.1 per cent was higher than 5.8 per cent in the previous quarter, though it witnessed a decline when compared to 7.8 per cent economic expansion recorded during the corresponding period of the last fiscal.
The government and Reserve Bank have been maintaining that the Indian economy will grow by six per cent growth with upward bias. If agriculture growth does not crash and this trend continues, growth this fiscal would be in line with the expectations of the authorities.
Mining and electricity among industrial sector, and financing among services sector posted higher growth of 7.9, 6.2 and 8.1 per cent, respectively, in the first quarter of this fiscal, against 4.6, 2.7 and 6.9 per cent a year ago.
ALSO READ
Indian Army arrests Lashkar-e-Taiba group guide in Poonch dst of Jammu-Kashmir
Two terrorists killed as Army foils infiltration bid along LoC in J-K's Rajouri
Indian Army soldier critically injured in suspected terror attack on Jammu camp
Teen swim star Summer McIntosh wins 400m gold
Iga Swiatek wins bronze for Poland's first tennis medal at any Summer Games
Construction and community services also managed good growth of 7.1 and 6.8 per cent against 8.4 and 8.2 per cent, respectively. However, agriculture and manufacturing expanded at a slower rate of 2.4 and 3.4 per cent against three and 5.5 per cent, respectively.
Growth in services like hotels, trade, transport and communication was significantly lower at 8.1 per cent against 13 per cent.
