New Delhi: India's Gross Domestic Product (GDP) for the October-December quarter (Q3) of fiscal 2011-12 grew 6.1% on-year to Rs 13.4 trillion, as against Rs 12.63 trillion in same quarters a year ago, the data released by the Central Statistics Office (CSO) showed Wednesday. It is slowest GDP growth in last 11 quarters.
The country's agriculture sector grew 2.7% on-year in Q3, mining and quarrying witnessed negative growth of 3.1% and manufacturing sector grew 0.4% in the period.
However, electricity sector continued its growth momentum and registered a growth of 9% on-year in Q3 of the current fiscal over the same quarter last fiscal. Construction sector grew 7.2% on-year and trade, hotels, transport and communication grew 9.2%, and financing, insurance, real estate and business services grew 9%.
The CSO data showed that the production of coarse cereals and pulses during the Kharif season of 2011-12 is estimated to have declined by 4.6% and 10.3% respectively, and rice has increased by 11.8% over the same season last year.
The production of oilseeds have declined by 5.1% during the reporting period, while the production of sugarcane and cotton grew by 1.6% and 3.3% respectively.
The CSO data showed that mining, manufacturing and electricity sector during the Q3 of fiscal 2011-12 grew -4.6%, 0.8% and 9.6%, respectively. In the corresponding quarter respective sectors grew by 6.3%, 9.2% and 6.5%.
India's GDP at factor cost at current prices grew by 14.2% in Q3 of 2011-12 to Rs 21.5 trillion, as against Rs 18.82 trillion in Q3, 2010-11.
In the reporting quarter India's headline inflation in food articles raised 6.3% on-year, non-food articles 4%, manufactured products 7.9%, electricity 2.6% and all commodities 8.9% over Q3 of 2010-11.
India's Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs 6.37 trillion in Q3 of 2011-12 as against Rs 5.99 trillion in Q3 of 2010-11. In terms of GDP at market prices, the rates of GFCF at current prices during Q3 of 2011-12 are estimated at 27.6%.
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