India's economic growth slipped to 6.2 per cent in the third quarter of 2004-05 from 11 per cent in the year-ago period.
The overall growth was also lower at 6.7 per cent during April-December 2004-05 as against 8.6 per cent in the year-ago period, according to figures released by Central Statistical Organisation on Thursday.
The GDP, measured in constant prices, till December was at Rs 11,13,956 crore (Rs 11,139.56 billion) while it was Rs 20,61,721 crore (Rs 20,617.21 billion) in current prices.
The slowdown in GDP growth was mainly due to a 1.1 per cent fall in farm output during October-December this fiscal over a handsome 18.2 per cent growth in the year-ago period.
Manufacturing logged double-digit growth of 10.4 per cent, while trade, hotel, transport and communication activities grew by 10.5 per cent.
Agriculture and allied activities were almost flat at 0.3 per cent during the first nine months of this fiscal against the robust growth of 9.3 per cent during the corresponding period of 2003-04.
Manufacturing and electricity, gas and water supply were the only sectors, which witnessed significant growth during the first nine months of this fiscal against the corresponding period of previous fiscal.
While manufacturing grew 9.2 per cent during April-December, 2004 against 6.7 per cent during the first nine months of the previous fiscal, electricity, gas and water supply rose 6.6 per cent against 2.4 per cent.
Growth in financing, insurance, real estate and business services was intact at 7 per cent during the review period, while trade, hotels, transport and communication grew 11 per cent against 10.8 per cent.
Construction dropped to 5.6 per cent during April-December of this fiscal against 7 per cent in the corresponding period of 2003-04 and mining and quarrying rose 5.2 per cent against 4.9 per cent.
Growth in community, social and personal services slowed to 6.4 per cent during the first nine months of this fiscal against 9.7 per cent in April-December, 2004.
Production of rice, coarse cereals, pulses and oilseeds has decreased by 7.5 per cent, 19.1 per cent, 11.2 per cent and 12.5 per cent respectively during the kharif season of 2004-05.
Production of cotton is, however, expected to rise by 15.9 per cent while that of sugarcane is likely to decline by 1.1 per cent during 2004-05 over the previous year, according to information furnished by the department of agriculture and cooperation.
According to the latest estimates on Index of Industrial Production, the indices of mining, manufacturing and electricity registered growth rates of 4.9 per cent, 9.1 per cent and 6.4 per cent during April-December 2004-05 compared to 4.3 per cent, 7.2 per cent and 3.4 per cent in the corresponding period of the last fiscal.
Performance of indicators -- number of telephones installed, aggregate bank deposits, bank credits and revenue expenditure (excluding interest payments) of Centre grew by 30.3 per cent, 17.1 per cent, 33 per cent and 4 per cent during the first nine months of this fiscal against the corresponding period of 2003-04.
GDP at factor cost at current prices grew 12.1 per cent in Q3 of this fiscal at Rs 7,71,237 crore (Rs 7,712.37 billion) over Rs 6,88,202 crore (Rs 6,882.02 billion) during the previous third quarter.
For the first nine months of this fiscal, GDP at factor cost at current prices rose by 12.4 per cent at Rs 20,61,721 crore (Rs 20,617.21 billion) over Rs 18,34,862 crore (Rs 18,348.62 billion) during the corresponding period of the previous fiscal.
The wholesale price index in respect of food articles, fish, minerals, manufactured products, electricity and all commodities has risen by 2.8 per cent, 3.3 per cent, 115.4 per cent, 6.6 per cent, 1.8 per cent and 6.8 per cent respectively during April-December 2004-05 over the corresponding period of last fiscal.
The consumer price index for industrial workers has shown a rise of 3.7 per cent during the first nine months of this fiscal over April-December 2003-04.
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