The government projected the growth of Indian economy to slow down to 7.1 per cent in the current fiscal as compared to 9 per cent in 2007-08.
The Central Statistical Organization (CSO) on 9 February 2009 said that the India''s projected GDP growth for the year ending March 2009 observed at 7.1%, which is 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 14.9% growth in last year.
Along with this, the construction growth seen at 6.5% as compared to 10.1% of last year and mining growth at 4.7% as against 3.3% a year ago. However, the Financial along with the insurance, real estate and business services are set to grow by 8.6 per cent against 11.7 per cent. On the other hand, the category of trade as well as the hotels, transport and communication is projected to grow by 10.3 percent against 12.4 per cent and community, social and personal services by 9.3 per cent against 6.8 per cent.
The Central Statistical Organization (CSO) on 9 February 2009 said that the India''s projected GDP growth for the year ending March 2009 observed at 7.1%, which is 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 14.9% growth in last year.
Along with this, the construction growth seen at 6.5% as compared to 10.1% of last year and mining growth at 4.7% as against 3.3% a year ago. However, the Financial along with the insurance, real estate and business services are set to grow by 8.6 per cent against 11.7 per cent. On the other hand, the category of trade as well as the hotels, transport and communication is projected to grow by 10.3 percent against 12.4 per cent and community, social and personal services by 9.3 per cent against 6.8 per cent.
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