In the October-December period ? the third quarter of the fiscal year 2010/11 ? GDP expanded 8.2% over the same period the year before. The reading came in below the previous quarter's 8.9% expansion and undershot market expectations, which had the economy growing 8.6%. The quarterly deceleration was mostly the result of weaker growth in the hotels, trade, transport, and communications sector, which accounts for more than a quarter of total output, slowing to a 9.4% expansion (Q2 2010/11: +12.1% year-on-year). In the same vein, growth in the manufacturing sector slowed for the fourth consecutive quarter, stepping down to 5.6% (Q2 2010/11: +9.8% yoy). In contrast, the agricultural sector picked up amid a good autumn harvest, while the financial services, real estate and business services sector continued to gather momentum. Against this backdrop, both the government and the Reserve Bank of India's expect the economy to grow 8.6% in the current fiscal year. For the fiscal year 2011/12, the government projected in its most recent budget the economy to expand between 8.75% and 9.25%.
Growth moderates in the third quarter
February 28, 2011
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India Economic News
October 17, 2016
Recently-released data related to India’s external sector showed that the trade deficit totaled USD 8.3 billion in September, which was a smaller shortfall than the USD 10.2 billion gap recorded in September 2015 (August 2016: USD 7.7 billion deficit).
October 15, 2016
In September, consumer prices fell 0.23% from the previous month, which followed August’s flat growth.
October 12, 2016
The fall in industrial production moderated in August, after recording the largest contraction since November 2015 in July.
October 5, 2016
Activity in India’s manufacturing sector lost steam in September.
October 4, 2016
The newly facelifted Reserve Bank of India (RBI) decided to ease monetary policy at a scheduled meeting on 4 October, cutting the repurchase rate from 6.50% to 6.25%—an over five-year low.