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InstaForex - Official partner of Dragon Racing

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2010.10.1501:24:00UTC+00GDP To Grow By 9.2% In FY11: CMIE

The Indian economy this fiscal is expected to grow by 9.2 per cent, said Centre for Monitoring Indian Economy (CMIE) on Thursday in Mumbai.

It asserted: "...the Indian economy will grow by 9.2 per cent in 2010-11, as we expect impressive growth in the manufacturing and services sectors as well."

In August, the Index of Industrial Production (IIP) dropped precipitously to 5.6 per cent, from the 13.8 per cent of the preceding month. It recorded a growth of 11.2 per cent in the June quarter, but CMIE believed that the growth was much more than the 11.2 per cent.

This was mad possible as sales revenues of the manufacturing companies rose by 23.8 per cent, while the rate of inflation in manufactured products (including petroleum products) was 8.2 percent, implying that sales volumes grew by around 14.4 per cent.

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