GDP forecasted to grow at 7.1% for 2008-09

Today CSO released the forecast for the Indian GDP growth for the year 08-09 as 7.1%.
I think its quite good growth compared to present conditions and there is little hope & space for repo & reverse repo cuts from RBI after the Vote of account.

Break of the GDP is as follows:

Farm growth seen at 2.6% vs 4.9% (YoY)

Manufacturing growth seen at 4.1% vs 8.2% (YoY)

Construction growth seen at 6.5% vs 10.1% (YoY)

Financial services growth seen at 8.6% vs 11.7% (YoY)

Mining growth seen at 4.7% vs 3.3% (YoY)

Services growth seen at 9.6% vs 10.9% (YoY)

Industrial growth seen at 4.8% vs 8.1% (YoY)