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CMIE estimates 6.3 p.c. growth
MUMBAI,
APRIL 12.
Aided by abundant agriculture production in 2003-04 and rise in consumer spending, the Centre for Monitoring Indian Economy (CMIE) today pegged the growth of Indian economy at 7.5 per cent for the first quarter of 2004-05 and that for the entire fiscal at 6.3 per cent.
The real growth in GDP for 2003-04 was around 8.7 per cent with 10.2 per cent in Q4, CMIE said in its monthly economic review.
"The real gross domestic product (GDP) grew at 8.7 per cent in 2003-04. Farm production in 2003-04 is expected to give rich dividends in the early 2004-05 and cash income available with farmers would spur consumer spending in Q1,'' it said.
PTI
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