<p>The government today said the economy may have expanded by 4.5 per cent in 2012-13, compared with the earlier estimate of 5 per cent, on account of subdued performance in agriculture, mining and manufacturing.<br /><br /></p>.<p>However, gross domestic product (GDP) growth in 2011-12 has been revised upwards to 6.7 per cent from 6.2 per cent, according to the estimates of National Income, Consumption Expenditure, Saving and Capital Formation.<br /><br />"Gross domestic product at factor cost at constant (2004-05) prices in 2012-13 is estimated at Rs 54.8 lakh crore as against Rs 52.5 lakh crore in 2011-12, registering a growth of 4.5 per cent during the year as against a growth of 6.7 per cent in the year 2011-12," a press statement said.<br /><br />Growth in 2012-13 is the lowest in a decade, with the previous low of 4 per cent recorded in 2002-03.<br /><br />The estimates for 2012-13 were released by the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation, along with the second revised estimates for 2011-12 and third revised estimates for 2010-11.<br /><br />Growth for 2010-11 was revised downwards to 8.9 per cent from 9.3 per cent earlier in the third and final revision.<br /><br />According to the revised estimates for 2012-13, the primary sector, which includes agriculture, fishing, mining and quarrying, grew by 1 per cent against the earlier estimate of 1.6 per cent.<br /><br />Growth in the secondary sector, including manufacturing, electricity, gas, water supply and construction, was 1.2 per cent, down from the original estimate of 2.3 per cent.<br /><br />The 4.5 per cent growth rate in 2012-13 is on account of expansion in financing, insurance, real estate & business services (10.9%), transport, storage and communication (6%) and community, social and personal services (5.3%).</p>
<p>The government today said the economy may have expanded by 4.5 per cent in 2012-13, compared with the earlier estimate of 5 per cent, on account of subdued performance in agriculture, mining and manufacturing.<br /><br /></p>.<p>However, gross domestic product (GDP) growth in 2011-12 has been revised upwards to 6.7 per cent from 6.2 per cent, according to the estimates of National Income, Consumption Expenditure, Saving and Capital Formation.<br /><br />"Gross domestic product at factor cost at constant (2004-05) prices in 2012-13 is estimated at Rs 54.8 lakh crore as against Rs 52.5 lakh crore in 2011-12, registering a growth of 4.5 per cent during the year as against a growth of 6.7 per cent in the year 2011-12," a press statement said.<br /><br />Growth in 2012-13 is the lowest in a decade, with the previous low of 4 per cent recorded in 2002-03.<br /><br />The estimates for 2012-13 were released by the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation, along with the second revised estimates for 2011-12 and third revised estimates for 2010-11.<br /><br />Growth for 2010-11 was revised downwards to 8.9 per cent from 9.3 per cent earlier in the third and final revision.<br /><br />According to the revised estimates for 2012-13, the primary sector, which includes agriculture, fishing, mining and quarrying, grew by 1 per cent against the earlier estimate of 1.6 per cent.<br /><br />Growth in the secondary sector, including manufacturing, electricity, gas, water supply and construction, was 1.2 per cent, down from the original estimate of 2.3 per cent.<br /><br />The 4.5 per cent growth rate in 2012-13 is on account of expansion in financing, insurance, real estate & business services (10.9%), transport, storage and communication (6%) and community, social and personal services (5.3%).</p>