The Government has marginally revised the economic growth for 2014-15 to 7.2 per cent from the earlier estimate of 7.3 per cent after factoring in latest data on agriculture and industrial production. <br/><br/>As per the first revised estimates of national accounts released by the Central Statistics Office, CSO today, the real GDP is estimated at Rs 105.52 lakh crore in 2014-15 as against 98.39 lakh crore in 2013-14 showing an increase of 7.2 per cent. The estimates of GDP and other aggregates for the years 2011-12 to 2013-14 have also undergone revision due to use of latest available data. <br/><br/>Last year, the CSO had estimated the GDP growth rate at 7.3 per cent for 2014-15 and 6.9 per cent in 2013-14. It said, the growth rate in secondary sector is estimated at 5.4 per cent down from earlier projection of 6.3 per cent. However the growth rate for the primary services including farm and allied activities and tertiary sectors have been revised upwards to 1.3 per cent and 10.3 per cent. <br/><br/>As per the revised estimates, the nominal net national income at current prices stood at Rs 110.08 lakh crore in 2014-15 as against Rs 99.34 lakh crore in 2013-14 showing an increase of 10.8 per cent. Gross Saving during 2014-15 is estimated as Rs 41.17 lakh crore as against 37.25 lakh crore during 2013-14.
News On AIR | January 29, 2016 8:08 PM
GDP growth for 2014-15 marginally revised down to 7.2%