Mumbai: India's gross domestic product (GDP) is estimated to grow an annual 5 per cent in the 2012-13 fiscal year, a government statement said on Thursday, citing provisional estimates. The latest estimate is the worst of all growth projections issued by the government and the RBI.
Last month, the RBI had pared the GDP growth estimate for the fiscal year ending in March to 5.5 per cent, the worst since 2002-03. India's farm output is expected to grow 1.8 per cent, while manufacturing sector is seen growing an estimated 1.9 per cent in the current fiscal year that ends in March.
India's economy grew at 6.2 per cent each in the last fiscal years, revised data from the government showed.
With Additional Inputs from Reuters
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
Chhattisgarh Naxal attack: Nand Kumar Patel's body found
Is BCCI saving its own people and must Srinivasan step down?
Is BCCI chief N Srinivasan making a big mistake by not resigning?
Let the team owners take over the IPL: Lalit Modi
The economy of India is the eleventh largest economy in the world by nominal GDP. and the fourth largest by purchasing power parity (PPP). In the 1990s, following economic reform from the socialist-inspired economy of post-independence India, ...
Chhattisgarh Congress chief, who was abducted by Naxals, found dead
Chhattisgarh: Naxals kill Salwa Judum founder Mahendra Karma
IPL scandal: BCCI suspends Meiyappan
Future uncertain, CSK out to hunt Mumbai for third title
