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Monday, February 09, 2009

CSO projects 7.1% GDP growth in FY 2009

It will the slowest growth in six years

The Central Statistical Organisation (CSO) today, 9 February 2009, pegged India's projected GDP growth for the year ending March 2009 at 7.1%, the slowest in six years and below the previous year's 9%. The CSO said manufacturing output growth was estimated at an annual 4.1%, half of the expansion in 2007/08 while farm output is seen at annual 2.6%, much lower than 4.9% growth last year.

The estimated growth in GDP for the trade, hotels, transport and communication sectors during 2008-09 is placed at 10.3%, lower than 12.4% growth last year. The segment 'financing, insurance, real estate and business services', is expected to show a growth rate of 8.6% during 2008-09, lower than 11.7% growth last year

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