Economic growth for 2012-13 lowered to 4.5 percent from 5 percent estimated earlier The Union Government of India on 31 January 2014 announced that economy might have expanded by 4.5 percent in fiscal year 2012-13 when compared to the previous estimate of 5 percent in account of subdued performance in agriculture, mining and manufacturing. However, as per the estimates of National Income, Consumption Expenditure, Saving and Capital Formation, the Gross Domestic Product (GDP) growth in 2011-12 has been revised upwards to 6.7 percent from 6.2 percent. Growth in 2012-13 is the lowest of the decade with previous low of 4 percent that was recorded in 2002-03. Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation has estimated the GDP for 2012-13 along with the second revised estimates for 2011-12 and third revision estimates for 2010-11. CSO has revised the growth for 2010-11 to 8.9 percent from 9.3 percent earlier in the third and final revision. The revised estimates for 2012-13 estimated the primary sectors including agriculture, mining, quarrying and fishing has grown by one percent against the previous estimate of 1.6 percent. About the secondary sector that includes manufacturing, electricity, gas, water supply and construction has gone down by 1.2 percent from the previous estimate of 2.3 percent. - See more at: jagranjosh/current-affairs/economic-growth-for-201213-lowered-to-45-percent-from-5-percent-estimated-earlier-1391234058-1#sthash.vWa9a0GM.dpuf
Posted on: Sun, 02 Feb 2014 02:46:02 +0000
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