Indian GDP grows by 6.1% for April-June 2009

Indian GDP grows by 6.1% for April-June 2009

Indian GDP grows by 6.1% for April-June 2009

The Gross Domestic Product (GDP) growth rate of India during the first Quarter (Q1) April-June 2009 is at 6.1% in spite of the world wide recession. It is lower than 7.8% economic expansion recorded during the corresponding period of April-June 2008.

Mining and electricity among industrial sector, and financing among services sector posted higher growth of 7.9, 6.2 and 8.1%, respectively, in the first quarter of this fiscal, against 4.6, 2.7 and 6.9% a year ago.

Agriculture, manufacturing, hotels, trade, transport and communications recorded a slower rate.

The government and Reserve Bank have been maintaining that the Indian economy will grow by 6% growth with upward bias. If agriculture growth does not crash and this trend continues, growth this fiscal would be in line with the expectations of the authorities.

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