HT Image
HT Image

Govt revises 2009-10 gdp growth to 8%

The Indian economy grew at 8% during fiscal year 2009-10, higher than the earlier estimated of 7.4%, driven by strong performance in manufacturing and services sectors, government data showed.
PTI | By letters@hindustantimes.com
UPDATED ON JAN 31, 2011 10:05 PM IST

The Indian economy grew at 8% during fiscal year 2009-10, higher than the earlier estimated of 7.4%, driven by strong performance in manufacturing and services sectors, government data showed. Per capita income also grew by 14.5% to Rs 46,492 in 2009-10 from Rs 40,605 in the year-ago period.

The higher expansion is an indication that India is recovering fast from the impact of the global financial crisis, which pulled down GDP growth to 6.8% during 2008-09, from over 9% in the preceding three years.

Although a higher growth in 2009-10 will have an adverse statistical impact on the performance of the current fiscal year due to a high base effect, economists feel that 2010-11 will still record a growth rate of 8.5%.

The new per capita income figure estimates on current market prices is over Rs 2,000 more than the previous estimate of Rs 44,345.

SHARE THIS ARTICLE ON
Close
SHARE
Story Saved
OPEN APP