ACCOUNTING
| CMIE projects an impressive 9.2 per cent GDP growth for FY 11 Wed, 16 Feb 2011 13:21:49 GMT |
| MUMBAI: India's GDP is likely to grow by an impressive 9.2 percent in FY 11, a leading economic think-tank said. "We believe that the (Indian) economy will grow by an impressive 9.2 per cent in fiscal 2010-11," the Centre for Monitoring Indian Economy (CMIE) said in its latest review of the country's economy today. Real GDP expanded by 8.9 percent in the first-half of FY 11. In the quarter ended March 2010, real GDP grew by a handsome 8.6 per cent and in the subsequent quarters, improved further to 8.9 percent in each quarter, CMIE said. "The economy is expected to perform even better in the second-half of 2010-11. We expect real GDP to grow by 9.7 percent during this period," it said. In the quarter ended December 2010, growth is estimated at 9.6 percent with the major contributors being agriculture and the trade-transport-hotels-communication segment of the services sector, it said. The banking and insurance sectors are estimated to have done well on the back of the surge in credit growth while the services sector is estimated to have grown by 10.8 percent during the quarter ended December 2010, it said. It had grown by 9.3 per cent in the first quarter and 9.8 percent in the second quarter, it added. |
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