| Economy on a hat-trick |
| Our Bureaus / New Delhi February 08, 2006 |
| 2005-06 set to clock 8.1% growth, third year running above 7.5%. Here is a clutch of numbers to gladden your heart. A day after the Sensex pierced 10,000 points, the government forecast the economy would grow 8.1 per cent in 2005-06, a survey of manufacturing showed nearly half the sectors had clocked over 10 per cent growth in the first three quarters of the year, and another study projected real Indian salaries would rise 13.7 per cent in 2006. The Central Statistical Organisation forecast the economy would grow 8.1 per cent in 2005-06, up from 7.5 per cent last year but below the 8.5 per cent of 2003-04. The manufacturing and services sectors are leading the way as a 2.3 per cent pick-up in agricultural output this fiscal year spurs demand. Manufacturing is pegged to grow 9.4 per cent in 2005-06, up from 8.1 per cent last year. A Confederation of Indian Industry-ASCON survey of manufacturing for the first nine months of 2005-06 reported that of the 139 sectors covered, output in 71 grew over 10 per cent. Of the 78 sectors reporting sales, 47 grew over 10 per cent. And pay hikes are in step. Salaries in India will rise 13.7 per cent in 2006, according to Hewitt Associates. The global human resources services firm said India |
