Rahul92
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ndia's economy grew faster-than-expected in the second quarter of its financial year, figures show.
In the three months to September, gross domestic product (GDP) was up 8.9% from the same period last year.
India is the world's second fastest-growing major economy
Although only the world's 11th biggest economy, India is the second fastest-growing major economy, behind China.
Strong farm production, increased vehicle sales and growing bank lending helped to boost the growth rate, India's statistics agency said.
There was a 9.8% jump in manufacturing from a year before, and an 8.8% increase in construction, while farming output was up 4.4%.
Meanwhile, the growth rate for the first quarter was revised upwards to 8.9% from 8.8%.
Some analysts believe the strong performance could lead the central bank to introduce monetary tightening to restrict inflation, running at 8.58%.
Interest rates have been raised six times since the start of the year and the Reserve Bank of India has said bringing down inflation remains a priority.
On Tuesday, Finance Minister Pranab Mukherjee said India could achieve GDP growth of between 8.5% and 8.75% in the current financial year, which ends in March 2011.
http://www.bbc.co.uk/news/business-11872464
In the three months to September, gross domestic product (GDP) was up 8.9% from the same period last year.
India is the world's second fastest-growing major economy
Although only the world's 11th biggest economy, India is the second fastest-growing major economy, behind China.
Strong farm production, increased vehicle sales and growing bank lending helped to boost the growth rate, India's statistics agency said.
There was a 9.8% jump in manufacturing from a year before, and an 8.8% increase in construction, while farming output was up 4.4%.
Meanwhile, the growth rate for the first quarter was revised upwards to 8.9% from 8.8%.
Some analysts believe the strong performance could lead the central bank to introduce monetary tightening to restrict inflation, running at 8.58%.
Interest rates have been raised six times since the start of the year and the Reserve Bank of India has said bringing down inflation remains a priority.
On Tuesday, Finance Minister Pranab Mukherjee said India could achieve GDP growth of between 8.5% and 8.75% in the current financial year, which ends in March 2011.
http://www.bbc.co.uk/news/business-11872464