Indian economy seen growing at 8.6 per cent in current fiscal
07 Feb 2011
The Indian economy is estimated to end the 2010-11 financial year with a growth rate of 8.6 per cent, against the 8.0 per cent growth recorded in the 2009-10 financial year, advanced estimates of national income released by the Central Statistical Organisation (CSO) showed.
Gross domestic product (GDP) of the country is estimated to grow at 8.6 per cent in the current fiscal against 8.0 per cent in the previous fiscal.
The country's GDP at factor cost at constant (2004-05) prices is likely to reach a level of Rs48,79,232 crore in the 2010-11 financial year, against Rs44,93,743 crore (as per quick estimates for the year 2009-10 released on 31 January 2011) in the previous financial year, official data released today showed.
GDP at factor cost at current prices is expected to grow at 18.3 per cent to Rs72,56,571 crore in the 2010-11 fiscal from Rs61,33,230 crore in the previous fiscal (2009-10).
CSO attributed the 8.6 per cent growth in GDP in the current fiscal to an over 8 per cent growth in the sectors such as 'manufacturing', 'construction', 'trade, hotels, transport and communication', 'financing, insurance, real estate and business services' as also a higher growth rate of 5.4 per cent in the agriculture sector.
The 'agriculture, forestry and fishing' sector is expected to record a growth of 5.4 per cent during 2010-11 against the 0.4 per cent growth recorded in the previous year.