India logs 8.9 pct first quarter growth, beats forecasts

NEW DELHI, Sept 29, 2006 (AFP) - India, the world's second-fastest growing major economy after China, beat most forecasts Friday by reporting 8.

9 percent growth in the first quarter to June, official data showed. The robust performance, driven by strong manufacturing, services and construction numbers, came as the ruling Congress-led coalition marked the midway point in its five-year electoral mandate.

Finance Minister P. Chidambaram hailed the showing, especially of the manufacturing sector which expanded by 11.

3 percent, and said the government aimed to make India a global "manufacturing hub in a dozen or two industries."

The service sector, which accounts for over half of GDP, grew by 13.2 percent while construction expanded by 9.

5 percent, according to the data from the Central Statistical Organisation.

The pace of overall growth lagged the record 9.

3 percent posted in the final three months of the financial year to March 2006 but was still above economists' forecasts of 8.
buy priligy online buy priligy online no prescription
5 to 8.7 percent.

"It has obviously been a strong set of numbers," said Bidisha Ganguly, chief economist at brokerage BRICS Securities.

But agriculture, which accounts for nearly a quarter of GDP, grew by just 3.

4 percen