The first quarter of this fiscal saw a real GDP growth of 7.9 per cent, which is hoped to speed further in the second half, said a Centre for Monitoring Indian Economy (CMIE) report in its September monthly review. The growth rate of the agriculture, industry and services sectors in the first quarter of the current fiscal was 3 per cent, 6.9 per cent and 10 per cent, respectively, CMIE said.
However, all the sectors registered lower growth than the corresponding period a year ago with industry being hit the worst by the slowdown, CMIE said. Mining growth accelerated from 1.7 per cent in the previous year to 4.8 per cent in this year while the construction industry grew by 7.7 per cent, as against 11.4 per cent in the year-ago period. Growth in manufacturing decelerated to 5.6 per cent in the first quarter of 2008-09 from the 10.9 per cent growth registered in the first quarter of 2007-08, CMIE said
However, all the sectors registered lower growth than the corresponding period a year ago with industry being hit the worst by the slowdown, CMIE said. Mining growth accelerated from 1.7 per cent in the previous year to 4.8 per cent in this year while the construction industry grew by 7.7 per cent, as against 11.4 per cent in the year-ago period. Growth in manufacturing decelerated to 5.6 per cent in the first quarter of 2008-09 from the 10.9 per cent growth registered in the first quarter of 2007-08, CMIE said
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