India’s GDP grows by 6.1 per cent in Q1

by pawanyadav on August 31, 2009

Despite of global financial slowdown, India puts an increase in GDP by 6.1 per cent during Q1(April-June 2009) in current fiscal. In the previous quarter it was 5.8%, shows an increase of 0.3%. In Q1 of the last fiscal year, the GDP(Gross Domestic Product) was noticed 7.8% which was much higher than now.

gdp growth Indias GDP grows by 6.1 per cent in Q1

According to the sources, mining and electricity in industrial sector, and financing among services sector posted higher growth in the first quarter of this fiscal against the previous. However, infrastructure development and community services have not register a growth against last fiscal.

The main decline was in the growth of hotels, trade, transport and communication which was significantly lower at 8.1 percent against 13 percent in the last fiscal, sources said.

On Saturday, speaking in a function of the Federation of Indian Chambers of Commerce and Industry (FICCI) in Bangalore, Planning Commission Deputy Chairman, Montek Singh Ahluwalia said drought situation might affect in achieving seven percent growth this year.

"Seven percent growth rate this year is unlikely. People are talking about six and six-and-a-half percent growth, which we agree and I think is reasonable,"Ahluwalia said.

Mr. Ahluwalia told to press that this sustaining growth would be considered as sign of recovery in slowdown but worried on draught situation.

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