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GDP estimate slips to dismal 5% in 2012-13

2/8/2013 1:02:12 AM

India's economic growth (gross domestic product) is estimated at an annual 5.0 per cent in fiscal year 2012-13. 

Mumbai: In its worst projection of recent time, country's economic growth (gross domestic product) is estimated at an annual 5.0 per cent in fiscal year 2012-13, Central Statistical Organisation report read.

An overall slow growth in manufacture, agriculture and service sectors accounted for the bearish projection. According to reports, last month, the central bank had pared the GDP growth estimate for the fiscal year ending in March to 5.5 per cent.

The report India's farm output is expected to grow 1.8 per cent, while manufacturing sector is seen growing an estimated 1.9 per cent in the current fiscal year that ends in March. India's economy grew at 6.2 per cent each in the last fiscal years, revised data from the government showed.

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