India’s GDP growth falls to 5.3 per cent in fourth quarter
According to the latest official figures reveled, India's Gross National Product (GDP) growth has fallen to its lowest level in 9 years to 5.3 per cent for the fourth quarter of the financial year till March 2012.
The GDP growth for the same quarter of 2010-11 was 9.2 per cent, showed the latest data announced by the company. Growth in the manufacturing sector fell 0.3 per cent, from 7.3 per cent in t same quarter of the previous financial year. The agricultural output rose by just 1.7 per cent during the quarter, compared to 7.5 per cent in the fourth quarter of the previous year.
The growth in mining and quarrying production was at 4.3 cent during the quarter compared to .6 per cent in Q4 of in 2010-11. The growth in the construction sector fell to 4.8 per cent during the fourth quarter compared to 8.9 per cent in the same quarter of 2011.
The trade, hotels, transport and communications segment recorded an impressive 7 per cent growth compared to 11.6 per cent while electricity, gas and water supply grew by 4.9 per cent during the quarter compared to 5.1 per cent. The overall services sector grew 10 per cent in the fourth quarter and manufacturing sector grew 2.5 per cent compared to 7.6 per cent.
As for the whole financial year, the national GDP growth in 2011-12 fell to 6.5 per cent from 8.4 per cent in the 2010-11.