New Delhi: The gross domestic product (GDP) has registered a growth of 8.4 per cent in the second quarter (July-September) of the current fiscal, against 5.2 per cent in the corresponding quarter last fiscal, thanks to bumper agriculture production coupled with improved performance by industry.
This is for the first time in close to a decade that that economic growth has exceeded the 8 per cent mark.
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As per the latest estimates of GDP released by the Central Statistical Organisation (CSO), GDP at factor cost at constant (1993-94) prices for Q2 of 2003-04 is estimated at Rs 3,23,414 crore, against Rs 2,98,345 crore in Q2 of 2002-03.

After a comparatively good monsoon, agriculture, which is expected to register a double-digit growth during the year, witnessed a growth of 7.4 per cent in Q2, against a fall of 3.5 per cent in the same quarter last year. The other sectors that saw significant growth in Q2 were construction (6.4 per cent), trade, hotels, transport and communication (11.9 per cent), financing, insurance, real estate and business services (7.3 per cent) and community, social and personal services (8.9 per cent).

Low growth rates were recorded by mining and quarrying at 2.3 per cent and electricity, gas & water supply at 2.9 per cent.

In agriculture, production of rice went up by 12.8 per cent, coarse cereals by 38.9 per cent and pulses by 41.7 per cent during the kharif season. Among commercial crops, production of oilseeds is expected to rise by 63.6 per cent, cotton by 40.9 per cent and sugarcane by 6.2 per cent.