India's FY11 GDP expands by 8.5%: Govt
2011-05-31 16:55:25
India's economy in FY11 grew by a slightly lower pace than earlier estimated as output growth in the key sub-segments like industry and mining decelerated from last year, data released by the Government showed on Tuesday.
GDP at factor cost at constant (2004-05) prices in the year 2010-11 is now estimated at Rs. 48,77,842 crore (as against Rs. 48,79,232 crore estimated earlier on 7th February), showing a growth rate of 8.5% (as against 8.6% in the Advance Estimates).
The Quick Estimates of GDP for FY10 stood at Rs. 44,93,743 crore, refleting a growth rate of 8%.
The downward revision in the GDP growth rate is mainly on account of lower performance in ‘Mining and Quarrying’, ‘Manufacturing’ and ‘Trade, Hotels, Transport & Communications’ and ‘Finance, Insurance, Real Estate & Business Services,’ the Government said in a statement today.
Growth rates in various sub-sectors are as follows:
‘Agriculture’ (6.6%), ‘Mining’ (5.8%), ‘Manufacturing’ (8.3%), ‘Electricity’ (5.7%) ‘Construction’ (8.1%), 'Trade, Hotels, Transport and Communication' (10.3%), 'Finance, Insurance, Real Estate and Business Services' (9.9%), and 'Community, Social and Personal Services' (7%).