India's GDP up 6.1 per cent in Q1 2009-10 despite economic slowdown
31 Aug 2009
The country's gross domestic product (GDP) at constant prices (factor cost base 1999-2000) rose to an estimated Rs8,30,555 crore in the first quarter of fiscal 2009-10, as against Rs7,82,619 crore in Q1 of 2008-09, showing a growth of 6.1 per cent over the corresponding quarter of the previous year.
Of the sectors which registered significant growth in April-June 2009-10 over Q1 of 2008-09 are, 'mining and quarrying' at 7.9 per cent, 'electricity, gas and water supply' at 6.2 per cent, 'construction' at 7.1 per cent, 'trade, hotels, transport and communication' at 8.1 per cent, 'financing, insurance, real estate and business services' at 8.1 per cent, and 'community, social and personal services' at 6.8 per cent.
According to official data released by the Central Statistical Organisation (CSO), 'agriculture, forestry and fishing' and 'manufacturing' posted growth rates of 2.4 per cent and 3.4 per cent, respectively during this period.
Of the crops used in compiling the estimate of GDP from agriculture in Q1 of 2009-10, production of rice, wheat, coarse cereals and pulses during the Rabi season of 2008-09 (ended in June 2009) recorded growth rates of 3.8 per cent, 2.6 per cent, 25.6 per cent, and 18.2 per cent, respectively over the production in the corresponding season of previous crop year.
Among commercial crops, production of oilseeds increased 13.6 per cent during the Rabi season of 2008-09, while the production of cotton and sugarcane recorded negative growth rates of (-)10.5 per cent and (-) 22.1 per cent, respectively, during the agriculture year 2008-09.
Mining, manufacturing and electricity, registered growth rates of 7.3 per cent, 3.2 per cent and 6.0 per cent, respectively, during Q1 of 2009-10 against growth rates of 4.0 per cent, 5.8 per cent and 2.0 per cent, respectively, during Q1 of 2008-09, as per the latest available estimates on the index of industrial production (IIP).
