Propelled by robust growth in trade and telecommunication, finance and manufacturing, GDP grew by 5.7 per cent to Rs 3,28,837 crore (Rs 3,288.37 billion) during the first three months of the year 2003-04, even as there was slowdown in agriculture, mining and quarrying.

Growth in GDP at factor cost at constant prices (1993-94 prices) was Rs 3,10,966 crore (Rs 3,109.66 billion) during April-June of the previous year (i.e. 2002-03), the quarterly estimates brought out by the government said on Tuesday.

At current prices, GDP growth at factor cost was 10.5 per cent at Rs 5,75,220 crore (Rs 5,752.20 billion) in the first quarter of 2003-04 as compared to Rs 5,20,394 crore (Rs 5,203.94 billion) in the same period of the previous fiscal.

At constant prices, trade, hotels, transport and communication recorded the maximum growth at 9.6 per cent to Rs 81,437 crore (Rs 814.37 billion) during the first quarter of this fiscal as compared to the growth of 6.9 per cent during the corresponding period of 2002-03.

By current prices, growth in these sectors was over 15 per cent to Rs 1,32,866 crore (Rs 1,328.66 billion) as against about 8.0 per cent growth in the corresponding period of the previous year.

Financing, insurance, real estate and business services sector grew by 7.1 per cent to Rs 43,291 crore (Rs 432.91 billion) at constant prices in the first quarter as compared to 6.7 per cent in the corresponding period of 2002-03.

By current prices, the growth in these sectors was 13.7 per cent to Rs 78,923 crore (Rs 789.23 billion) in April-June as compared to a growth of 8.6 per cent in the corresponding period of 2002-03.

Manufacturing sector grew by 6.4 per cent to Rs 56,688 crore (Rs 566.88 billion) during April-June at constant prices as compared to only 3.8 per cent growth recorded in the corresponding period in 2002-03.

By current prices, growth was 12.1 per cent to Rs 90,564 crore (Rs 905.64 billion) as compared to just 5.0 per cent growth recorded in the corresponding period of 2002-03.

Though agriculture GDP grew by 1.7 per cent to Rs 73,705 crore (Rs 737.05 billion) in April-June this year, the growth was as high as 2.7 per cent in the first quarter of 2002-03, by constant prices.