Table 7 : India’s Real GDP Growth (Per cent) Sector  Full Year  April-June  (Base: 1999-2000)  1  2  200304  2004-05 (QE)  2005-06 (RE)  3  4  5  2005 2006 6  7  1  Agriculture and Allied Activities  10.0  0.7  3.9  3.4  3.4  2  Industry  6.6  7.4  7.6  9.5  9.7  2.1 Mining and Quarrying  5.3  5.8  0.9  3.1  3.4  2.2 Manufacturing  7.1  8.1  9.0 10.7  11.3  2.3 Electricity, Gas and Water Supply  4.8  4.3  5.3  5.4  16  7.4  BIS Review 106/2006  3  Services  8.5  10.2  10.3 10.1  10.5  3.1 Construction  10.9  12.5  12.1 12.4  9.5  3.2 Trade, Hotels and Restaurants, Transport, Storage and Communication  12.0  10.6  11.5 11.7  13.2  3.3 Financing, Insurance, Real Estate and Business Services  4.5  9.2  9.7  8.8  8.9  3.4 Community, Social and Personal Services  5.4  9.2  7.8  7.3  9.5  4  8.5  7.5  8.4  8.5  8.9  Gross Domestic Product  Agriculture Assuming trend growth in agriculture under normal monsoon conditions and barring domestic or external shocks, the Reserve Bank in its Annual Policy Statement for 2006-07 (April 2006) placed real GDP growth, for policy purposes, in the range of 7.5-8.0 per cent during 2006-07.
The Netherlands was the first country to adopt this policy, and Duisenberg had already defended it strongly when he was Minister of Finance (73-77). During Duisenberg's entire presidency, the Netherlands was a participant in the ERM, the exchange rate mechanism of the European Union, that had started in 1979.