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India's Q1 GDP grew 5.7%
By siliconindia
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Tuesday, 30 September 2003, 19:30 IST
NEW DELHI: India's gross domestic product (GDP) grew 5.7 per cent in the first quarter of the year ended March, 2004 compared with 5.3 per cent in the year-ago period, placing it in the league of the world's fastest growing economies.
Growth was boosted by a strong showing in the industry and services sectors.
A Government statement said the farm sector grew 1.7 per cent in the first quarter compared with 2.7 per cent a year earlier. The manufacturing sector expanded by 6.4 per cent in the first quarter compared with 3.8 per cent in the year-ago period.
Financial, insurance and business services grew 7.1 per cent compared with 6.7 per cent in the previous year. Community, social and personal services grew 4.3 per cent compared with 6.9 per cent a year earlier.