08 February,2010 12:24 PM IST | | IANS
India on Monday forecast its economic growth for this fiscal at 7.2 per cent, as against 6.7 per cent achieved in the previous fiscal, despite a 0.2 per cent declined predicted in farm output.
The advance estimates of the country's gross domestic product released by the Central Statistical Organisation (CSO) forecasts a growth of 9.9 per cent in services and 8.9 per cent in manufacturing - the highest among the eight broader economic activities.
Mining and quarrying comes next with an 8.7 per cent expansion followed by 8.3 per cent for trade, hotels, transport and communications, and 8.2 per cent each for energy and water, and social and community services.
The per capita income in real terms is also likely to expand 5.4 per cent to Rs 33,540, compared to Rs 31,821 in the previous fiscal, said a statement from the agency, under the ministry of statistics and programme implementation.
"These advance estimates are based on anticipated level of agricultural and industrial production, analysis of budget estimates of government expenditure and performance of key sectors like, railways, transport other than railways, communication, banking and insurance, available so far."
The percentage growth under the eight categories of business activities for this fiscal are as under, with figures for previous fiscal in brackets:
- Overall gross domestic product: 7.2 (1.6)
- Agriculture, forestry and fishing: -0.2 (1.6)
- Mining and quarrying: 8.7 (1.6)
- Manufacturing: 8.9 (3.2)
- Electricity, gas and water supply: 8.2 (3.9)
- Construction: 6.5 (5.9)
- Trade, hotels, transport and communication: 8.3 (7.6)
- Financing, insurance, real estate business services: 9.9 (10.1)
-Community, social and personal services: 8.2 (13.9)
