05-31-2007, 08:32 PM
<b>Economy grows @9.4 pc, India Inc upbeat</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->According to RBI's own projection, the economy is expected to grow at 8.5 per cent this fiscal.
World Bank, in its Global Development Finance Report for 2007, projected the Indian economy to grow at 7.8 per cent and 7.5 per cent in 2008 and 2009 respectively.
<b>"...Its (India's) restrictive policy conditions are expected to lead to deceleration in investment growth and weaker private consumption and government spending, contributing to a slowdown in GDP growth...,"</b> the report said.
For the whole year, growth in manufacturing and some services sector more than made up for a slowdown in agriculture and construction sector.
<b>Manufacturing grew by 12.3 per cent </b>in 2006-07 against 9.1 per cent in the previous year, while <b>trade, hotels, transport and communication services grew by 13 per cent </b>against 10.4 per cent a year ago.
Agriculture and allied sector's growth, however, slowed down to 2.7 per cent against six per cent and construction to 10.7 per cent against 14.2 per cent.
Mining and quarrying grew by 5.1 per cent during 2006-07 against 3.6 per cent in the previous fiscal, while electricity, gas and water supply registered 7.4 per cent growth against 5.3 per cent. Community, social and personal services grew by 7.8 per cent against 7.7 per cent.
However, services relating to financing, insurance, real estate and business growth slowed down to 10.6 per cent against 10.9 per cent.
For the fourth quarter of 2006-07, agriculture, construction, services relating to financing, insurance, real estate and social services growth slowed down year-on-year.
<b>Agriculture growth went down to 3.8 per cent </b>against 6.2 per cent, <b>construction to 11.2 per cent </b>from 16.1 per cent, services <b>relating to financing insurance, real estate and business to 9.3 per cent</b> from 14.2 per cent and<b> community, social and personal services to 5.7 per cent </b>from 7.2 per cent.
However, manufacturing grew to 12.4 per cent against 9.4 per cent, and trade, hotels, transport and communication activities to 12.4 per cent against 11.8 per cent.
<b>Mining and quarrying also grew by 7.1 per cent </b>against 5.2 per cent, while <b>electricity, gas and water supply by 6.9 per cent </b>from 6.1 per cent
<!--QuoteEnd--><!--QuoteEEnd-->
Agriculture growth is down again, it means majority of population is not growing. Infrastructure sector is also slowing down.
World Bank, in its Global Development Finance Report for 2007, projected the Indian economy to grow at 7.8 per cent and 7.5 per cent in 2008 and 2009 respectively.
<b>"...Its (India's) restrictive policy conditions are expected to lead to deceleration in investment growth and weaker private consumption and government spending, contributing to a slowdown in GDP growth...,"</b> the report said.
For the whole year, growth in manufacturing and some services sector more than made up for a slowdown in agriculture and construction sector.
<b>Manufacturing grew by 12.3 per cent </b>in 2006-07 against 9.1 per cent in the previous year, while <b>trade, hotels, transport and communication services grew by 13 per cent </b>against 10.4 per cent a year ago.
Agriculture and allied sector's growth, however, slowed down to 2.7 per cent against six per cent and construction to 10.7 per cent against 14.2 per cent.
Mining and quarrying grew by 5.1 per cent during 2006-07 against 3.6 per cent in the previous fiscal, while electricity, gas and water supply registered 7.4 per cent growth against 5.3 per cent. Community, social and personal services grew by 7.8 per cent against 7.7 per cent.
However, services relating to financing, insurance, real estate and business growth slowed down to 10.6 per cent against 10.9 per cent.
For the fourth quarter of 2006-07, agriculture, construction, services relating to financing, insurance, real estate and social services growth slowed down year-on-year.
<b>Agriculture growth went down to 3.8 per cent </b>against 6.2 per cent, <b>construction to 11.2 per cent </b>from 16.1 per cent, services <b>relating to financing insurance, real estate and business to 9.3 per cent</b> from 14.2 per cent and<b> community, social and personal services to 5.7 per cent </b>from 7.2 per cent.
However, manufacturing grew to 12.4 per cent against 9.4 per cent, and trade, hotels, transport and communication activities to 12.4 per cent against 11.8 per cent.
<b>Mining and quarrying also grew by 7.1 per cent </b>against 5.2 per cent, while <b>electricity, gas and water supply by 6.9 per cent </b>from 6.1 per cent
<!--QuoteEnd--><!--QuoteEEnd-->
Agriculture growth is down again, it means majority of population is not growing. Infrastructure sector is also slowing down.