labels: economy - general
Third quarter GDP at 10.4 per cent news
Our Economic Bureau
01 April 2004

New Delhi: The country's third quarter gross domestic product (GDP) registered a 10.4 per cent year-on-year growth.This is over and above the growth rates of 5.7 per cent and 8.4 per cent for the first and second quarters, respectively.

The cumulative average growth for April-December 2003 is 8.2 per cent, compared with 4.1 per cent for the corresponding three quarters of the previous year. The 8.2 per cent cumulative growth for April-December 2003 is also marginally higher than the 8.1 per cent `advance estimate' for the 2003-04 fiscal as a whole, made by the Central Statistical Organisation .

The 10.4 per cent growth has been driven by the agricultural sector, which has expanded by 16.9 per cent, which had come down by 9.8 per cent during the same quarter of the previous fiscal year.

The growth in the agricultural sector has been due to a good monsoon, which has resulted in production of kharif rice, coarse cereals, pulses and oilseeds growing by 22.3 per cent, 38.3 per cent, 32 per cent and 84.4 per cent, respectively during the kharif season of 2003-04.

Manufacturing has recorded a growth of 6.5 per cent, over and above 6.8 per cent for the third quarter of 2002-03. Within industry, the manufacturing sub-sector has registered a higher growth of 7.4 per cent (against 6.9 per cent during October-December 2003). It is mainly the mining and construction segments that have staged a slowdown.

The services sector, which has grown by 7.6 per cent, 9.8 per cent and 9 per cent, respectively during the first three quarters of 2003-04, as against their corresponding levels of 7.2 per cent, 7.8 per cent and 6.8 per cent, respectively.


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Third quarter GDP at 10.4 per cent