The union government on Thursday revised the country's gross domestic product (GDP) growth for fiscal year 2011-12 downwards from its previous provisional estimate of 6.5 per cent to 6.2 per cent.

The Central Statistics Office (CSO) also announced the second and third revised estimates for fiscal years 2010-11 and 2009-10. The GDP growth for 2010-11 fiscal was revised upwards from 8.4 per cent to 9.3 per cent.

Announcing the revised estimates, the CSO said, "GDP at factor cost at constant (2004-05) prices in 2011-12 is estimated at Rs 52.43 lakh crore as against Rs 49.37 lakh crore in 2010-11, registering a growth of 6.2 per cent during the year as against a growth of 9.3 per cent in the year 2010-11."

The GDP at current prices was estimated at Rs 83.53 lakh crore for 2011-12 as against Rs 72.67 lakh crore in 2010-11, representing a hike of 15 per cent as against a hike of 19 per cent in the preceding fiscal year.

Per capita income for the fiscal 2011-12 in real terms at 2004-05 prices was estimated at Rs 38,037, against Rs 36,342 in the fiscal 2010-11. The revised estimated figure works out to a hike of 4.7 per cent in 2011-12 as against a hike of 7.2 per cent in the preceding year.

Household sector savings in absolute terms jumped from Rs 18.33 lakh crore in 2010-11 to Rs 20.04 lakh crore in 2011-12, while private corporate sector savings increased from Rs 6.19 lakh crore to Rs 6.44 lakh crore. On the other hand, public sector savings slipped by a whopping 41.4 per cent from Rs 1.99 lakh crore to Rs 1.17 lakh crore over the same period of time.