India's GDP growth for 2007-08 at 8.7 pc

Thursday, February 7, 2008, 16:36 [IST]

New Delhi, Feb 7: India's economy is expected to grow at a marginally lower rate of 8.7 per cent in 2007-08, official figures reveal.

The slowdown from 9.6 per cent scaled in fiscal 2006-07 is being attributed mainly to anticipated dip in manufacturing growth. The performance was close to the forecast of the Reserve Bank of India of 8.5 per cent this fiscal year. Finance Minister P Chidambaram had pegged the rate at 9 per cent. However, agricultural growth saw a lag at 2.6 per cent against 3.8 per cent in 2006-07 while services sector grew by 10.7 per cent compared to 11.1 per cent.

Sectors which showed good prospects were 'manufacturing', 'electricity, gas and water supply, 'construction, trade, hotels and communication', 'financing, insurance, real estate and business services, and 'community, social and personal services'.

UNI

Topics: india, gdp, economy

Other articles published on February 7, 2008

India's ad expenses to increase by 2010

Sunday, May 20, 2007,13:35 [IST]

New Delhi, May 20: Country's advertising expenses to its GDP are likely to exceed 0.55 per cent from the current level of 0.52 per cent by 2010, according to an industry chamber estimates. With a current GDP of 850 billion dollars, India's advertisement potential is yet to be realised that is why its budget expenditure to GDP ratio will enhance, Assocham said here today.China, Malaysia, Singapore, South Korea, the US and France spend about 0.62 per cent, 1.....

GDP to grow at 9pc; restrict capital inflows: EAC

Monday, July 16, 2007,19:11 [IST]

New Delhi, July 16: The Prime Minister's Economic Advisory Council(EAC) today projected the economy to grow at nine per cent during 2007-08 with inflation being maintained at four per cent and advised the government to maintain a judicious mix of instruments to moderate the impact of capital inflows. The EAC expects that the fiscal deficit target of 5.2 per cent of GDP for the year to be achieved; put the Current Account Defict(CAD) at.....

Limitless Updates

Business News

News Archives

Bring parallel economy into tax net: Kalam

Saturday, June 16, 2007,0:37 [IST]

Nagpur, June 16: President Dr A P J Abdul Kalam called for research to work out ways and means to bring the country's entire economy, including the 'parallel economy', within the tax net. Speaking at a function as part of the silver jubilee celebrations of the National Academy of Direct Taxes (NADT) here, Dr Kalam said the research would enable the Ministry of Finance to make the necessary changes in its policy every year to.....