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India's Gross Domestic Product (GDP) growth is estimated at 5.0
percent for 2012-13 when compared to the growth rate of 6.2 per cent in
2011-12, according to the data released by Central Statistical
Organisation (CSO) and Ministry of Statistics and Programme
Implementation.
GDP for the year 2012-13 is likely to attain a level of Rs.55,03,476 crores, as against the first revised estimate of GDP for the year 2011-12 of Rs. 52,43,582 crore, released on 31st January 2013, the report added.
There may be slow growth in the sectors of 'agriculture, forestry and fishing' (1.8%), manufacturing (1.9%) and electricity, gas & water supply (4.9%). The growth in the mining and quarrying sector is estimated to be (0.4%).
The ‘agriculture, forestry and fishing’ sector is likely to show a growth of 1.8 per cent in its GDP during 2012-13, as against the previous year’s growth rate of 3.6 per cent.
The production of cotton and sugarcane is also expected to decline by 4.0 per cent and 6.5 per cent, respectively, in 2012-13. Among the horticultural crops, production of fruits and vegetables is expected to increase by 3.5 per cent during the year 2012-13 as against 5.1 percent in the previous year.
The manufacturing sector is likely to show a growth of 1.9 per cent in GDP during 2012-13.
According to the latest estimates available on the Index of Industrial Production (IIP), the index of manufacturing and electricity registered growth rates of 1.0 per cent and 4.4 per cent, respectively during April-November, 2012-13, as compared to the growth rates of 4.2 per cent and 9.5 per cent in these sectors during April-November, 2011-12.
The mining sector is likely to show a growth of 0.4 per cent in 2012-13 as against negative growth of 0.6 per cent during 2011-12. The construction sector is may show a growth rate of 5.9 per cent during 2012-13 as against growth of 5.6 per cent in the previous year.
The key indicators of construction sector, cement production and steel consumption have registered growth rates of 6.1 per cent and 3.9 per cent, respectively during April-December, 2012-13.
The estimated growth in GDP for the trade, hotels, transport and communication sectors during 2012-13 is placed at 5.2 per cent as against growth of 7.0 percent in the previous year.
The sector, 'financing, insurance, real estate and business services', is expected to show a growth rate of 8.6 per cent during 2012-13, on account of 11.1 per cent growth in aggregate deposits and 15.2 per cent growth in bank credit as on December 2012 against the respective growth rates of 17.2 per cent and 16.0 per cent in the corresponding period of previous year.
GDP for the year 2012-13 is likely to attain a level of Rs.55,03,476 crores, as against the first revised estimate of GDP for the year 2011-12 of Rs. 52,43,582 crore, released on 31st January 2013, the report added.
There may be slow growth in the sectors of 'agriculture, forestry and fishing' (1.8%), manufacturing (1.9%) and electricity, gas & water supply (4.9%). The growth in the mining and quarrying sector is estimated to be (0.4%).
The ‘agriculture, forestry and fishing’ sector is likely to show a growth of 1.8 per cent in its GDP during 2012-13, as against the previous year’s growth rate of 3.6 per cent.
The production of cotton and sugarcane is also expected to decline by 4.0 per cent and 6.5 per cent, respectively, in 2012-13. Among the horticultural crops, production of fruits and vegetables is expected to increase by 3.5 per cent during the year 2012-13 as against 5.1 percent in the previous year.
The manufacturing sector is likely to show a growth of 1.9 per cent in GDP during 2012-13.
According to the latest estimates available on the Index of Industrial Production (IIP), the index of manufacturing and electricity registered growth rates of 1.0 per cent and 4.4 per cent, respectively during April-November, 2012-13, as compared to the growth rates of 4.2 per cent and 9.5 per cent in these sectors during April-November, 2011-12.
The mining sector is likely to show a growth of 0.4 per cent in 2012-13 as against negative growth of 0.6 per cent during 2011-12. The construction sector is may show a growth rate of 5.9 per cent during 2012-13 as against growth of 5.6 per cent in the previous year.
The key indicators of construction sector, cement production and steel consumption have registered growth rates of 6.1 per cent and 3.9 per cent, respectively during April-December, 2012-13.
The estimated growth in GDP for the trade, hotels, transport and communication sectors during 2012-13 is placed at 5.2 per cent as against growth of 7.0 percent in the previous year.
The sector, 'financing, insurance, real estate and business services', is expected to show a growth rate of 8.6 per cent during 2012-13, on account of 11.1 per cent growth in aggregate deposits and 15.2 per cent growth in bank credit as on December 2012 against the respective growth rates of 17.2 per cent and 16.0 per cent in the corresponding period of previous year.
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