According to the recent data released by the Central Statistical
Organisation India’s economic growth rate plunged to 5.3 per cent in the
January-March quarter of 2011-12. The figure is lowest in the past 9
years. The Gross domestic product (GDP) growth during the corresponding
period of 2010-11 was 9.2 per cent. The depressing figure of economic
growth is largely attributed to poor performance of the manufacturing
and agriculture sectors.
The overall GDP in 2011-12 also came down to 6.5 per cent from 8.4 per cent in the 2010-11.
The manufacturing sector showed a sharply contracted growth during
the quarter ending 31 March 2012 as the growth figure came down to 0.3
per cent from 7.3 per cent during the same period of 2010-11.
Agriculture sector also grew in similar fashion and witnessed a
growth of just 1.7 per cent during the last quarter, compared to 7.5 per
cent during the same period of 2010-11.
The services sector registered highest growth rate, and remained
unchanged at 10 per cent in the fourth quarter ended March 2012.
The mining and quarrying sector witnessed a growth of 4.3 cent, while
the construction sector's growth slowed to 4.8 per cent during the
last quarter of 2010-11. The trade, hotels, transport and communications
sector expanded by 7 per cent. Electricity, gas and water supply grew
by 4.9 per cent in the January-March period, compared to 5.1 per cent
growth during the same period of 2012-11.
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