ii recent economic developments introduction 2 1 the striking features of sustained growth momentum indian economy are a continued upturn in manufacturing sub sector industry and further acceleration services fostered by sectors construction financing insurance real estate business trade hotels transport communication community social personal notwithstanding some moderation gross domestic product gdp 2004 05 india was among fastest growing economies emerging asia industrial fanned out abetted congenial investment climate favourable corporate results expor ts upswing demand liberalised foreign direct fdi regime this complemented firm pick up non food credit underscoring investments swelling production imports capital goods buttressed buoyant markets confidence indices were sanguine despite late onset south west monsoon fiscal 2005 06 buoyancy expected activity robustness affirm that macroeconomic outlook for forthcoming financial year is upbeat reserve bank revised projections from around
