economic growth

India’s Economic growth revised down to 8.4%

 Ministry of Statistics and Programme Implementation releases the Quick Estimates of economic growth. As per

these latest estimates, India’s economic growth rate is slated to be 8.4% for 2010-11 financial year, slightly down

to 8.4 per cent from the earlier estimate of 8.5 per cent.

 Major source of growth in the GDP has been from the services sector, which has grown at the rate of 9.3 per

cent.

 The agriculture sector growth has also been impressive at 7 per cent during the year 2010-11.

 The growth of secondary sector, which includes manufacturing and construction sector, stood at 7.2 per cent.

 Finance, insurance, real estate and business services expanded by 10.4 per cent in 2010-11, against a growth rate

of 9.4 per cent in the previous fiscal.

 Trade, hotels and restaurants expanded by 9 per cent in 2010-11, against a growth rate of 7.8 per cent in 2009-

10. Construction sector grew by 8 per cent during the year under review, against 7 per cent in the previous fiscal.

 The mining and quarrying sectors registered 5 per cent growth, against 6.3 per cent expansion in the previous

fiscal. Manufacturing grew by 7.6 per cent in 2010-11, compared to a growth of 9.7 per cent in 2009-10.

 Electricity, gas and water production recorded 3 per cent growth, compared to 6.3 per cent. As per the data, the

GDP at constant prices at market prices during the year 2010-11 has grown at 9.6 per cent.





India’s Per Capita Income: Rs 53,331 per annum
 The latest Quick Estimates of National Income released by the Central Statistical Office (CSO) show that India’s
per capita income grew by 15.6 per cent to Rs 53,331 per annum in 2010-11, crossing the half-a-lakh rupees mark
for the first time. Last year, the income was Rs. 46,117 per annum.
 Per capita income is the earnings of each Indian if the national income is evenly divided among the country’s
population of around 120 crore. The Per Capita Income is an important indicator of overall prosperity in the
country.
 The above figures is on current prices. The increase in per capita income at constant 2004-05 prices, after
discounting for inflation, was about 6.4 per cent in 2010-11. It was 35,993 rupees in 2010-11, as against 33,843
rupees in the previous year.








Kaushik Basu presents outlook for the economy in 2012-13
 Chief Economic Advisor, Kaushik Basu presents the outlook for the economy in 2012-13.
 He expressed the hope that the inflation rate will come down soon to below 7 per cent & expected that this will
help in accelerating the growth rate faster than the current year.
 Growth achieved during the first half of the current year, was 7.3 per cent. There was a sharp improvement in
industrial performance in November last year and overall growth bounced back to 5.9 per cent.