India revises down 2012/13 GDP growth to 4.5 percent y/y

NEW DELHI Fri Jan 31, 2014 6:23pm IST

Workers prepare to unload steel rods with a crane from a goods train at a railway yard in Ahmedabad January 8, 2014. REUTERS/Amit Dave/Files

Workers prepare to unload steel rods with a crane from a goods train at a railway yard in Ahmedabad January 8, 2014.

Credit: Reuters/Amit Dave/Files

Related Topics

NEW DELHI (Reuters) - India revised down its economic growth for the fiscal year 2012/13 to 4.5 percent from 5.0 percent earlier, the government data showed on Friday, on lower than provisionally estimated output in farm and manufacturing sectors.

The latest numbers are the first revised gross domestic product (GDP) estimates for the last fiscal year.

The data also showed lower than estimated growth numbers for exports, capital investment and consumption sectors, suggesting deeper underlying weaknesses in Asia's third-largest economy, which grew at more than 9 percent before the 2008 global financial crisis.

The GDP growth for 2011/12 fiscal year was, however, upwardly revised to 6.7 percent from 6.2 percent, but that of the 2010/11 year was revised down to 8.9 percent from 9.3 percent, the data from the Ministry of Statistics showed.

The government and the central bank have often blamed sharp data revisions for creating problems for policy formulations.

(Reporting by Manoj Kumar and Rajesh Kumar Singh; editing by Malini Menon)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage