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Indian GDP estimated to grow by 7.2 % [Geo TV] 09 Feb, 2010
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MUMBAI: India''s Gross Domestic Product (GDP) is likely to grow by 7.2 per cent in 2009-10 as compared to the growth rate of 6.7 per cent achieved in 2008-09, despite a slight decline in the growth of the agriculture sector, data released by the Central Statistical Organisation (CSO) said.
In its Advance Estimates of National Income for 2009-10, the CSO said the GDP at factor cost at constant (2004-05) prices was likely to attain a level of Rs 44,53,064 crore in 2009-10 as against the Quick Estimates of GDP for 2008-09 of Rs 41,54,973 crore, released on January 29, 2010.
The projected growth rate for the current financial year is lower than the estimate of 7.5 per cent made by the Reserve Bank of India (RBI) on January 29 on the basis of the encouraging second quarter growth of 7.9 per cent. The growth in the first half of 2009-10 has worked out to 7 per cent, which is impressive given the turmoil the world economy is going through.
A statement from the CSO said the growth rate of 7.2 per cent in 2009-10 would be due to the growth rates over 5 per cent in sectors such as mining quarrying, manufacturing, electricity, gas and water supply, construction, trade, hotels, transport and communication, financing insurance, real estate and business services, and community, social and personal services. |
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