Friday, August 31, 2012

GDP growth slows in first quarter


Economy grew by 5.5 per cent in the first(April-June) quarter, thanks to poor performance of manufacturing, mining and farm sectors. The gross domestic product (GDP) growth was 8 per cent in the corresponding quarter of 2011-12. The previous quarter(January- March) saw the slowest growth in nine years. The higher inflation also creates problems for our economy, it prevents RBI from reducing the rates. 

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