GDP to grow by 9.2 pct in FY11

Mumbai: India's gross domestic product (GDP) is expected to grow by 7.1 per cent in FY 10 and by 9.2 per cent in FY 11, a leading economic think-tank said.

"We estimate the real gross domestic product would have risen by 7.1 per cent in fiscal 2009-10...and by 9.2 per cent in 2010-11," the Centre for Monitoring Indian Economy (CMIE) said in its report in Mumbai.

In the first three-quarters of FY 10, real GDP grew by 6.7 per cent as compared to 7.1 per cent in the corresponding period of 2008-09.

In the fourth-quarter, it is estimated to have grown by an "impressive" 8.4 per cent, the CMIE report said.

"The growth in 2009-10 would be driven by the rise in GDP from the industrial sector including construction, it said," adding "we estimate that the industry sector would have grown by 9.4 per cent in 2009-10, with the manufacturing segment clocking a robust 10.3 per cent growth."

Real GDP from mining and quarrying is estimated to have grown by 10.3 per cent in 2009-10, on top of a 9.7 per cent growth in 2008-09.

"Coal, natural gas and iron ore are the few items whose production has recorded impressive growth," the CMIE said.

Growth in the services sector is estimated to have come down to 8.2 per cent in FY 10 from 9.8 per cent in FY 09, it said.

Source: The Indian Express