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August 31, 2010    

India’s economy races ahead with 8.8% growth

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by Gill Montia
India's economy races ahead with 8.8% growth

India saw its economy grow by 8.8% in the three months to the end of June, when compared to a year earlier.

GDP forged ahead at its fastest pace in over two years with the sectors registering significant growth, compared with the previous three month period, as follows: manufacturing 12.4%; trade, hotels, transport and communication 12.2%; mining and quarrying 8.9%.

Growth in agriculture, forestry and fishing stood at 2.8%.

The India Reserve Bank is expecting the country’s economy to grow 8.5% during the 2010/11 financial year and is currently reoccupied with concerns over inflation which is running at over 11%, despite rates having been raised four times since the middle of March.

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