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GDP growth bests forecasts
The annual growth rate for the first quarter was 9.3 per cent, beating forecast of 8.9 per cent. The annual wholesale price inflation dropped below 4 per cent for the first time since April 2006, to stand at 3.94 per cent on Aug. 18 – well below the RBI’s target of around 5 per cent. Manufacturing grew at 11.9 per cent, services at 10.6 per cent and farming 3.8 per cent in the April-June quarter.
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