Govt revises downwards FY12 GDP to 6.2 pc from 6.5 pc

Government today revised downward the economic growth for fiscal 2011-12 to 6.2 per cent from the earlier estimate of 6.5 per cent.

However, as per the first revised estimates of National Income, Consumption Expenditure, Saving and Capital Formation, the GDP (Gross Domestic Product) for the fiscal 2010-11 has been revised upwards to 9.3 per cent from 8.4 per cent.

"GDP at factor cost at constant (2004-05) prices in 2011-12 is estimated at Rs 52,43,582 crore as against Rs 49,37,006 crore in 2010-11, registering a growth of 6.2 per cent during the year as against a growth of 9.3 per cent in the year 2010-11," the estimates showed.

The estimates were released by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation for 2011-12, along with second revised estimates for the year 2010-11 and third revised estimates for 2009-10.

At current prices, CSO said, GDP in 2011-12 is estimated at Rs 83,53,495 crore as against Rs 72,66,967 crore in 2010-11, showing an increase of 15 per cent, as against an increase of 19 per cent in the previous fiscal.

The CSO said that the per capita income in real terms (at 2004-05 prices), is estimated at Rs 38,037 for 2011-12 as against Rs 36,342 in 2010-11, registering an increase of 4.7 per cent during the year, as against an increase of 7.2 per cent during the previous year.

The per capita income at current prices is estimated at Rs 61,564 in 2011-12 as against Rs 54,151 for the previous year depicting a growth of 13.7 per cent, as against an increase of 17.1 per cent during the previous year.

The data further further said that the growth in the GDP during 2011-12 has been achieved due to expansion in financing, insurance, real estate and business services (11.7 per cent), transport, storage and communication (8.4 per cent), electricity, gas and water supply (6.5 per cent) and trade, hotels and restaurants (6.2 per cent).