GDP figures a wake-up call: Mahindra

TNN | Dec 1, 2011, 05.22AM IST

NEW DELHI: The manufacturing sector, which accounts for nearly 16% of the country’s GDP, remained sluggish growing by 2.7% in September compared to 7.8% expansion in the same year-ago quarter and 7.2% growth in the April-June quarter. The farm sector grew 3.2% in the September quarter, slower than the 5.4% expansion in July-September 2010-11 , but near 3.9% growth in the previous April-June quarter.

The mining sector was a laggard , declining 2.9% in the September quarter compared to a growth of 8% in the second quarter of 2010-11 . The services sectorgrew 9.3% in the September quarter. “Q2 GDP figures are a brutal wake-up call. Time for policy turbo chargers. Courage needed to put infrastructure spending into accelerate mode,” tweeted Anand Mahindra , VC of M&M . But FM Pranab Mukherjee said he is confident that the economy would be able to recover some of the loss in growth momentum in the months ahead as there are some encouraging signs.

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