India grows 8.6% in Q4 and 7.4% for 2009-10

The Indian economy roared past estimates to post a whopping growth rate of 8.6% in the January-March quarter of 2010. The quarter’s strong showing also helped India end the fiscal year with 7.4% growth, beating the earlier estimate of 7.2%. Manufacturing led the way, with a whopping 16.3% growth in the quarter and 10.8% overall, while even agriculture, which was expected to decline, ended with marginal growth of 0.2% year-on-year after growing 0.7% in Q4.

The GDP growth rate had slowed to 6.7% in 2008-09 following the global economic crisis, after topping 9% in the previous three years. On Monday, finance minister Pranab Mukherjee reiterated his confidence that the economy would grow at 8.5%-plus in 2010-11.

Finance secretary Ashok Chawla also pegged economic growth at 8.5% in 2010-11. “The growth numbers are pleasant but not really surprising, because we were expecting them to be robust which they turned out to be. This clearly indicates the momentum which is in the economy and the expectations that the 8.5% estimation for 2010-11 is going to be a clear possibility,” he said.

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Above picture courtesy: Moneymint

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  • B K CHOWLA

    I accept and congratulate the country for achieving this growth rate.It has been done despite the govt.
    Isnt it fair for the govt to give us analyses of the inflation of the same period?
    GDP has no relevance for those who cant afford two meals a day.

    • Liju Philip

      Of course, all development in India happens inspite of the govt. Everywhere the govt has put its hands, its ended up in mediocre or corrupt organisation. Inflation is another beast that the govt doesnt want to reveal.