labels: industry - general, economy - general, central statistical organisation
GDP growth at 6.9 per cent in 2004-05news
Our Economy Bureau
08 February 2005
New Delhi: India's GDP is expected to grow at 6.9 per cent during the current fiscal, which follows the 8.5 per cent increase registered in 2003-04.

As per the advance estimates of national income, released by the Central Statistical Organisation (CSO) yesterday, the 6.91 per cent growth in the country's gross domestic product during 2004-05 would be propelled mainly by industry and services. While industry is estimated to grow by 7.8 per cent (against 6.6 per cent in 2003-04), the growth rate for services is marginally lower (8.9 per cent versus 9.1 per cent).

The buoyancy in these two sectors would, to a great extent, offset the uninspiring performance of agriculture in a year where the monsoon has played truant, leading to a sharp decline in overall farm production growth, from 9.6 per cent in 2003-04 to 1.1 per cent in 2004-05.

The resilience seen in industry and services has been particularly pronounced in the case of the manufacturing and trade, hotels, transport and communication' sub-sectors, which are expected to grow by 8.9 per cent and 11.3 per cent this year, over and above their respective previous year levels of 6.9 per cent and 11.8 per cent.

This is clearly indicative of a genuine underlying growth momentum in the economy.

According to the CSO, the country's GDP at current market prices during 2004-05 would be Rs31,08,561 crore or nearly $715 billion.


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GDP growth at 6.9 per cent in 2004-05