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India’s FY13 GDP seen growing just 5% – The latest estimate is the worst of all growth projections issued by the govt and RBI

This article was posted on Feb 7, 2013 and is filed under Market News

The latest estimate is the worst of all growth projections issued by the govt and RBI

India’s gross domestic product (GDP) is estimated to grow an annual 5% in the FY13 fiscal year, a government statement said on Thursday, citing provisional estimates.

The latest estimate is the worst of all growth projections issued by the government and the RBI. Last month, the RBI had pared the GDP growth estimate for the fiscal year ending in March to 5.5%, the worst since 2002-03.

India’s farm output is expected to grow 1.8%, while manufacturing sector is seen growing an estimated 1.9% in the current fiscal year that ends in March.

India’s economy grew at 6.2% each in the last fiscal years, revised data from the government showed.

Source: Business Standard

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