GDP growth for 2011-12 lowered
The government, has announced a downward revision in GDP
(gross domestic product) growth to 6.2 per cent for fiscal year 2011-12 from the earlier provisional
estimate of 6.5 per cent.
Alongside, the GDP growth for 2010-11 fiscal stands revised upwards to 9.3 per cent from 8.4 per cent, as per the first revised estimates of ‘National income, consumption expenditure, saving and capital formation’, released by the Central Statistics Office (CSO) for 2011-12 along with second revised estimates for 2010-11 and the third revised estimates for 2009-10.
According to the CSO data, the expansion in GDP during 2011-12 was mainly on account of growth in sectors such as financing, insurance, real estate and business services by11.7 per cent, transport, storage and communication (8.4 per cent), electricity, gas and water supply (6.5 per cent) and trade, hotels and restaurants (6.2 per cent).
Alongside, the GDP growth for 2010-11 fiscal stands revised upwards to 9.3 per cent from 8.4 per cent, as per the first revised estimates of ‘National income, consumption expenditure, saving and capital formation’, released by the Central Statistics Office (CSO) for 2011-12 along with second revised estimates for 2010-11 and the third revised estimates for 2009-10.
According to the CSO data, the expansion in GDP during 2011-12 was mainly on account of growth in sectors such as financing, insurance, real estate and business services by11.7 per cent, transport, storage and communication (8.4 per cent), electricity, gas and water supply (6.5 per cent) and trade, hotels and restaurants (6.2 per cent).
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