| Economy zooms past 9% growth in 2006-07 |
| BS Reporters / New Delhi June 1, 2007 |
| Consistent double-digit growth in manufacturing and services and major data revisions saw the country record a 19-year high in gross domestic product (GDP) growth at 9.4% for 2006-07. This is the highest growth rate after 10.5% recorded in 1988-89, according to data released by the Central Statistical Organisation today, prompting Finance Minister P. Chidambaram to say he expects the economy to grow at over 9 per cent in the current financial year. However, fourth-quarter growth at 9.1% was slower over 10% in the same year-ago period on account of a decline in agriculture, construction, financial and social services growth, suggesting a deceleration of the growth momentum. Economists expect this trend to continue. M Govinda Rao, director, National Institute of Public Finance and Policy, said the country would not be able to maintain last years |
