Poor performance by the manufacturing sector pulled down the country economic growth to 7.8 per cent in the fourth quarter ending March 2011, as against 9.4 per cent in the same quarter last year. However, economic growth, as measured by the Gross Domestic Product, improved to 8.5 per cent in the entire 2010-11 fiscal, from 8 per cent in 2009-10, due to better farm output and construction activities and financial services performance. During the quarter ending March 31 2011, growth in the manufacturing sector slowed to 5.5 per cent, from 15.2 per cent in the same quarter of 2009-10. But farm output growth improved to a strong 7.5 per cent, compared to 1.1 per cent. And during the entire 2010-11 fiscal, the agriculture and allied sectors grew by 6.6 per cent, against just 0.4 per cent growth in the earlier fiscal. But manufacturing sector growth slowed to 8.3 per cent, from 8.8 per cent in 2009-10. Meanwhile, the GDP growth figure for the first quarter of the 2010-11 fiscal has been revised upward to 9.3 per cent, against the earlier estimate of 8.9 per cent. And the third quarter GDP growth has been revised up to 8.3 per cent, from 8.2 per cent.
News On AIR | May 31, 2011 1:42 PM
India's GDP grows at 8.5 per cent in FY-2010-11