Indian economy grew by just 6.9% in the second quarter of the 2011-12 financial year, breaking below the 7% mark. Q1 GDP was at 7.7%.
The government has projected overall economic growth in the current fiscal at around 8.5%, while the Reserve Bank has projected the growth to moderate to 8% from 8.5% in FY'11. But the current quarter GDP suggest that we might not be able to achieve even 7% GDP in current financial year.
Manufacturing sector grew by 2.7% while Construction sector grew by 4.3% vs 6.7% (y-o-y). Mining went down by -2.9%.