This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6971817.stm
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Indian growth tops expectations | Indian growth tops expectations |
(10 minutes later) | |
India's economy is growing faster than expected, according to official data, on the back of steady farm growth and strong manufacturing and services. | India's economy is growing faster than expected, according to official data, on the back of steady farm growth and strong manufacturing and services. |
Gross Domestic Product (GDP) grew 9.3% in the April to June quarter from its level a year earlier. | Gross Domestic Product (GDP) grew 9.3% in the April to June quarter from its level a year earlier. |
The figure, from the Ministry of Statistics, had been expected to fall to 8.9% from the 9.1% recorded in the quarter between January and March. | The figure, from the Ministry of Statistics, had been expected to fall to 8.9% from the 9.1% recorded in the quarter between January and March. |
The central bank expects growth of 8.5% for the whole of this year. | The central bank expects growth of 8.5% for the whole of this year. |
Growth picture | Growth picture |
"It is slightly higher than expected partly because of higher farm growth and services. Every sector is growing," said Saumitra Chaudhuri, economic adviser at ICRA in Delhi. | "It is slightly higher than expected partly because of higher farm growth and services. Every sector is growing," said Saumitra Chaudhuri, economic adviser at ICRA in Delhi. |
Some analysts see the faster growth creating a risk of another rise in interest rates, but Friday's inflation figures appear to make that less likely. | Some analysts see the faster growth creating a risk of another rise in interest rates, but Friday's inflation figures appear to make that less likely. |
Wholesale price inflation was 3.94% in the 12 months to 18 August, which is the first time that the weekly figure has fallen below 4% since April 2006. | Wholesale price inflation was 3.94% in the 12 months to 18 August, which is the first time that the weekly figure has fallen below 4% since April 2006. |
The central bank raised interest rates five times betweenJune 2006 and March 2007. | |
Behind China, India is the world's second fastest growing major economy. | Behind China, India is the world's second fastest growing major economy. |
Previous version
1
Next version