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GDP at 4.8% – Indian economy grows slowest in 10 years

This article was posted on May 31, 2013 and is filed under Market News

New Delhi: Pulled down by poor performance of farm, manufacturing and mining sectors, economic growth slowed to 4.8 percent in the January-March quarter and fell to a decade’s low of 5 percent for the entire 2012-13 fiscal.

The economic growth or gross domestic product (GDP) had expanded by 5.1 percent in January-March quarter of last fiscal. Economy had grown at 4 percent in 2002-03.

India’s economic growth was at 6.2 percent for the 2011-12 fiscal. It had grown by 5.4 percent, 5.2 percent and 4.7 percent in the first, second and third quarters, respectively, of 2012-13, according to data released by the Central Statistical Organisation (CSO) today.

In January-March quarter of 2012-13, manufacturing sector grew marginally by 2.6 percent, against 0.1 percent growth in the same period of the earlier fiscal.

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