New Delhi: Driven by a robust performance by the manufacturing sector, the Indian economy grew by 8.4 per cent in the last quarter of 2009-10, pushing up the overall growth to a better-than-expected 7.4 per cent.
'RBI should slowly tighten policy rate'
The manufacturing sector grew by 16.3 per cent in the fourth quarter (January-March 2009-10) and 10.8 per cent in the fiscal.
The Gross Domestic Product (GDP) grew at 7.4 per cent for 2009-10, higher than the February projection of 7.2 per cent.
The Central Statistics Organisation (CSO) also revised upwards the growth rates for Q2 and Q3 of 2009-10 on better-than-expected performance by manufacturing, mining and quarrying industries than first thought.
Slow-motion recovery keeps unemployment high
There was no decline in agriculture growth in 2009-10, despite widespread drought and floods hitting the farm output.
According to the CSO data, the farm sector recorded a growth rate of 0.2 per cent contrary to expectations of negative growth.
A look at global economic developments
Following the global financial crisis, the GDP had moderated to 6.7 per cent in 2008-09 after recording a growth rate of 9 per cent in the three preceding years.