India saw 8.8 percent of year-on- year GDP growth in the quarter ending June 30 on low base in the previous year and robust domestic consumption, said a release by Indian Ministry of Statistics and Program Implementation Tuesday.
The brisk growth rate is in line with economists' estimates prior to the release and is the highest one since 2008, which is expected to bring more pressure to the central bank to further tightening monetary policy.
Indian agriculture, forestry and fishing sector registered 2.8 percent of increase in the quarter thanks to sufficient rainfall in the monsoon season.
Meanwhile, the manufacturing sector witnessed 12.4 percent of increase with mining sector and trade, hotels, transport and communication sector growing 8.9 percent and 12.2 percent year on year, respectively.
India targets to realize 8.5 percent of economic growth in fiscal year 2010-2011, which starts from April 2010, from 7.4 percent in the previous fiscal year.
The brisk growth rate is in line with economists' estimates prior to the release and is the highest one since 2008, which is expected to bring more pressure to the central bank to further tightening monetary policy.
Indian agriculture, forestry and fishing sector registered 2.8 percent of increase in the quarter thanks to sufficient rainfall in the monsoon season.
Meanwhile, the manufacturing sector witnessed 12.4 percent of increase with mining sector and trade, hotels, transport and communication sector growing 8.9 percent and 12.2 percent year on year, respectively.
India targets to realize 8.5 percent of economic growth in fiscal year 2010-2011, which starts from April 2010, from 7.4 percent in the previous fiscal year.
