India's Largest Database on New Projects
February
28, 2007: The Indian economy continued to grow at a rapid pace of 8.6 per cent
in the third quarter of the current financial year, led by the manufacturing and
services sector while farm growth plunged to a low of 1.5 per cent. The 8.6 per
cent expansion during October-December 2006-07 followed the growth of 8.9 per
cent and 9.2 per cent in the first and second quarters of this fiscal, taking
the average growth so far this year to just below nine per cent. Manufacturing rose
by 10.7 per cent in the third quarter compared to 8.2 per cent a year ago,
while farm sector growth declined to a mere 1.5 per cent as against 8.7 per cent
in the third quarter of 2005-06.
In services, construction growth slowed down to 9.8 per cent from 16.6 per cent, financial services rose by 11.6 per cent compared to 9.8 per cent a year ago. Trade, hotels, transport and communication sector witnessed a growth of 13 per cent from 10 per cent a year ago. Growth in the mining sector stood at 5.7 per cent as against 2.7 per cent, while electricity, gas and water supply sectors registered a growth of 9.3 per cent compared to 5 per cent in the year-ago quarter.
Source:
The Economic Times