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India's economic growth in fiscal year 2010-2011 of 8.5%

India's Central Bureau of Statistics recently released bulletin shows that the 2010-2011 fiscal year (ended March 31, 2006) India's gross domestic product (GDP) of 48.77 trillion rupiah (about $ 1.08 trillion), up growth of 8.5%, slightly lower than the previous forecast of 8.6%.

The statement said that India's economic growth fell short of expectations mainly due to mining, manufacturing and some service industries poor performance. 2009-2010 fiscal year, India's GDP growth of 7.4%.

Data show that, due to abundant rainfall, the agricultural sector on the fiscal year increase of up to 6.6%, exceeding the 5.4 percent previously expected, and significantly higher than the previous year 0.4% increase. The fiscal year on mining and manufacturing growth of 5.8% and 8.3%, lower than the previous year by 6.9% and 8.8% increase.

Community, social and personal services increased from the previous fiscal year, 11.8% to 7%, electricity, gas and water supply sector growth rate declined from 6.4% to 5.7%. The construction industry, trade, hotels, transportation and communications industries as well as financial, insurance, real estate and business services growth has increased 8.1%, 10.3% and 9.9%.

Data show that the Indian economy in the fourth quarter of fiscal year increase of just 7.8%, 8.2% lower than the market expected, but also the 2009-2010 fiscal year, the slowest increase since a quarter.

The data also indicate that agriculture, industry and services to GDP was 14.35%, 27.9% and 57.73%.

To ease the upward pressure on inflation, Reserve Bank of India in the past 15 months has raised interest rates nine consecutive times.