Govt revises FY'10 growth to 8 pc

It was estimated to grow at 7.4 percent earlier

PTI | January 31, 2011



The government on Monday revised the GDP growth rate for the 2009-10 financial year upward to 8 percent from the earlier estimate of 7.4 percent on the back of improved performance of the manufacturing and services sectors.

"The growth rate of 8 per cent in the GDP during 2009-10 has been achieved due to high growth in manufacturing (8.8 percent), financing, insurance, real estate & business services (9.2 percent), transport, storage and communication (15.0 percent), community, social and personal services (11.8 per cent)," the official data showed.

In addition, the GDP growth estimate for FY2008-09 has been revised marginally upward to 6.8 percent from the previous estimate of 6.7 percent.

Agriculture sector growth recorded 0.4 percent growth in FY2009-10 after witnessing a 0.1 percent decline in FY2008-09, the data showed.

In addition, the mining and quarrying sectors registered 6.9 percent growth in FY'10, as against 1.3 percent expansion in the previous fiscal. Furthermore, electricity, gas and water production recorded 6.4 percent growth in FY'10, compared to 4.9 percent expansion in FY'09.
 

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