India revises 04/05 GDP to 7.5% | india | Hindustan Times
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India revises 04/05 GDP to 7.5%

India revised its GDP for the year 04/05 to 7.5% from the earlier estimate of 6.9% mainly due to a change in the base year.

india Updated: Jan 31, 2006 18:35 IST

India revised its gross domestic product for the year 04/05 to 7.5 per cent from the earlier estimate of 6.9 per cent mainly due to a change in the base year, government data showed on Tuesday.

GDP was up 8.5 per cent in the fiscal year ended March 2003. India's financial year runs from April to March.

The government statement said 1999/2000 would be the new base year, replacing the old series which was based on the financial year ending March 1994.

As a result there was a sharp upward revision in the transport, storage and communication services output at 14.8 per cent from the earlier estimate of 11.4 per cent.

The statement said agriculture, forestry and fishing would have a weightage of 25.3 per cent under the new series compared with earlier 26.3 per cent. Manufacturing would be around 14.7 per cent compared with earlier 15.1 per cent.

Services will have a weightage of 49.3 per cent.