Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | India maintains high growth rate

India maintains high growth rate

Share this article Share this article
published Published on Dec 1, 2010   modified Modified on Dec 1, 2010

India's economy grew faster than expected in the second quarter of its financial year, figures show.

In the three months to September, gross domestic product (GDP) was up 8.9% from the same period last year.

However, inflation remains a real concern for authorities with new figures showing prices rising by 9.7% in October.

Although only the world's 11th biggest economy, India is the second fastest-growing major economy, behind China.

Strong farm production, increased vehicle sales and growing bank lending helped to boost the growth rate, India's statistics agency said.

There was a 9.8% jump in manufacturing from a year before, and an 8.8% increase in construction, while farming output was up 4.4%.

Meanwhile, the growth rate for the first quarter was revised upwards to 8.9% from 8.8%.
 
Inflation worries

But the rapid economic growth has also led to pick up in prices, with India's Consumer Price Index for October up 9.7% from a year earlier.

That was a slightly slower rate than September, according to the statistics agency, but it was still the second fastest rate of inflation in the G20 nations after Argentina.

Some analysts believe that the latest strong growth figures could lead the central bank to take more action to try to cool inflation.

Interest rates have been raised six times since the start of the year and the Reserve Bank of India has said bringing down inflation remains a priority.

On Tuesday, Finance Minister Pranab Mukherjee said India could achieve GDP growth of between 8.5% and 8.75% in the current financial year, which ends in March 2011.

Strong growth figures have helped ease concerns over India's fiscal deficit, which stood at 1.62 trillion rupees ($35.3bn; £22.7bn) for the April-to-October period.

This is 42.6% of the country's full-year target of 3.81tn rupees.


BBC, 30 November, 2010, http://www.bbc.co.uk/news/business-11872464


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close