Indian GDP grows annual 9.2 percent in July-Sept

By agencies   |   Thursday, 30 November 2006, 06:00 Hrs
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New Delhi: India's economy grew by 9.2 percent in the July-September quarter from a year earlier, higher than market expectations, data showed on Thursday.

The annual growth rate in the second quarter of the 2006/07 financial year was higher than the April-June rate of 8.9 percent, and compared with analysts' forecast of 8.9 percent.

Asia's fourth-largest economy has grown at an average 8 percent in the past three fiscal years and is poised for another year of 8 percent expansion in 2006/07.

The Reserve Bank of India raised its key-lending rate, the repo rate, by 25 basis points to 7.25 percent last month and kept its other policy rates, including its main borrowing rate, stable.

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