Journalism of Courage
Premium
This is an archive article published on June 29, 2004
GDP seen up 9 pc through Jan-March
Indian economy is forecast to expand 9 pc in the year through the January-March quarter, aided by strong farm and service sector growth. Ana...
1 min read
Indian economy is forecast to expand 9 pc in the year through the January-March quarter, aided by strong farm and service sector growth.
Analysts said the best monsoon in a decade boosted crops harvested in the quarter and record low interest rates fuelled expansion in financial services as consumers bought cars and homes, attracted by interest rates at three-decade lows.
The growth forecast from 10 economists surveyed for the January-March quarter ranged between 7.8 pc and 10.5 pc and produced a median forecast of 9 pc. The economy expanded 10.4 pc in the year through the October-December quarter.
The provisional figures for the January-March quarter are due to be released on Wednesday. India does not release seasonally adjusted growth data. ‘‘The growth will be driven by a good summer crop harvest. I expect the farm and services sector to push growth in this quarter,’’ said Riyaz Khan, an analyst at the CMIE. Analysts said the farm sector would log double-digit growth.
Advertisement
Live Blog
PHOTOS
Top Stories
Advertisement
Must Read
Advertisement
Buzzing Now
TrendingAmul celebrates Tom Cruise’s first-ever Oscar in 40-year career; netizens say ‘it looks more like…’
TrendingRedditor quits job just 3 hours after joining; asked to work 9-hour shifts for Rs 12,000: ‘Toxic workplace never ends in India’
TrendingBengaluru techie shocked after landlord demands Rs 1 lakh rent for 3BHK: ‘Have people lost their minds?'
- 01
- 02
- 03
- 04
- 05
Advertisement