India’s economy grew 6.1 per cent in December quarter

According to the latest official data released, the Indian economy grew 6.1 per cent in the third quarter of the current financial year compared to a growth rate of 6.9 per cent growth recorded in the second quarter.
The Prime Minister's Economic Advisory Council expects the Indian economy to grow at 7.1 per cent in the financial year till March 2012. On the other hand, Central Statistics Office estimates show that the country's economy will grow at 6.9 per cent.
In the third quarter, the sectors that showed strong performance included "electricity, gas and water supply" growing at 9 per cent, construction at 7.2 per cent, "trade, hotels, transport and communications" at 9.2 per cent and "financing, insurance, real estate and business services" at 9 per cent.
Union Finance Minister Pranab Mukherjee has said that India needs to target a double-digit economic growth in the near future. He blamed the tight monetary policy measures by the country's central bank and continuing uncertainties in the global economy for a slowdown in the Indian economic growth.
Mr. Mukherjee has earlier said that that country might have to settle for GDP growth of 7 per cent this year. He said while speaking to a television channel that the country's GDP growth has been 7.3 per cent and the two quarters are unlikely to have substantial improvement and thus the GDP growth for the year is expected to be around 7 per cent.