Economy to grow 8.6% this fiscal: Data
Projecting a noteworthy 5.4 growth in farm output, 8.1% in factory production and 10.2% in services, India today estimated the overall economy to expand 8.6% this fiscal against 8% the previous year.business Updated: Feb 07, 2011 13:00 IST
Projecting a noteworthy 5.4 growth in farm output, 8.1% in factory production and 10.2% in services, India on Monday estimated the overall economy to expand 8.6% this fiscal against 8% the previous year.
As per fresh estimates released by the Central Statistical Organisation (CSO), the gross domestic product (GDP) expanded by 8% last fiscal and 6.8% in 2008-09. The latest estimate is also higher than 8.5% forecast by the central bank.
The per capita income in real terms is forecast to expand well to Rs 36,003, compared to the estimate of Rs 33,731. "The growth rate in per capita income is estimated at 6.7% during 2010-11, as against the previous year's estimate of 6.1%," CSO said.
Following are the growth projections for this fiscal released on Monday. Previous year's figures in brackets:
-Agriculture, forestry and fishing - 5.4% (0.4%)
-Mining and quarrying 6.2% (6.9%)
-Manufacturing - 8.8% (8.8%)
-Electricity, gas and water supply - 5.1% (6.4%)
-Construction - 8% (7%)
-Trade, hotels, transport communications - 11% (9.7%)
-Financing, insurance, real estate and business services - 10.6% (9.2%)
-Community, social and personal services - 5.7% (11.8%)