Economy

Govt lowers 2011-12 GDP growth rate to 6.2 %

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The government had earlier projected the growth rate at 6.5 per cent for FY 2012

The government had earlier projected the growth rate at 6.5 per cent for FY 2012

dnNew Delhi: The government revised downward the economic growth for fiscal 2011-12 to 6.2 percent from the earlier estimate of 6.5 percent on Thursday.

According to 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 percent from 8.4 percent.

“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 percent during the year as against a growth of 9.3 percent 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.

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