The first 3 months of the fiscal year 2007-08 have got off the economy to a good start. A 9.3 % growth was recorded in the GDP during this period.
This comes on the heels of the 9.4 % expansion for the last fiscal- the highest in two decades.
What is encouraging is that annual inflation has come down to 3.94 % in the last 12 months till August 18. It is the first time annual inflation has fallen below 4 % since April 2006. The annual inflation rate for the corresponding period last year was 5.12 %.