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Rediff.com  » Business » GDP growth at 6.9% in FY05

GDP growth at 6.9% in FY05

Last updated on: June 30, 2005 13:34 IST
Powered by a 9.2 per cent growth in the manufacturing sector, India's economic growth stood at 6.9 per cent for 2004-05 fiscal compared to 8.5 per cent during the previous financial year.

According to estimates released by the Central Statistical Organisation, the GDP growth rate during the last quarter of 2004-05 stood at 7 per cent as against 6.4 per cent during the third quarter of 2004-05.

The agriculture growth showed a marginal improvement during January-March quarter growing at 1.8 per cent against a negative 0.5 per cent growth during the third quarter of 2004-05.

Agriculture, forestry and fishing sectors grew by 1.1 per cent during the 2004-05 fiscal as against 9.6 per cent during 2003-04.

The 'trade, hotels, transport and communication' industry continued to register double digit growth at 11.4 per cent as against 11.8 per cent during the previous fiscal year.

The performance of the 'financing, insurance, real estate and business service' industry remained unchanged at 7.1 per cent during 2004-05. (It stood at 7.1 per cent during 2003-04).

As for the national income (at 1993-94 prices) the CSO revised estimates for gross national product at factor cost for the 2004-05 fiscal year which stood at Rs 15,19,479 crore (Rs 15194.79 billion) as against Rs 14,22,479 crore (quick estimates) during 2003-04.

The net national product at factor cost for 2004-05 rose to Rs 13,54,999 crore (Rs 13549.99 billion) as against Rs 12,66,005 crore (quick estimates) during the previous fiscal.

The gross domestic product for the last fiscal stood at Rs 15,29,408 crore (Rs 15294.08 billion) as against Rs 14,305,548 crore (quick estimates) for 2003-04.

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