Mumbai: The government will not revise the April-June quarter GDP growth number and it will remain at 8.8%, a government official told Reuters on Wednesday. However, the demand data may be changed, the official said.
Finance minister Pranab Mukherjee said on Wednesday the government is sticking to its FY11 GDP growth forecast of 8.50%-8.75%.
India’s economy grew at its fastest pace in nearly three years in the April-June quarter on strong manufacturing growth and better farm output that may keep the Reserve Bank of India (RBI) on its monetary tightening path.
The 8.8% annual growth reported on Tuesday narrowly beat the median forecast of 8.7% in a Reuters’ poll as well as the 8.6% expansion logged in the previous quarter.