FY08 GDP at 9%; Q4 growth falls to 8.8%

"The upward revision in the GDP growth rate is mainly on account of the revision made in the estimated production of agricultural crops by the department of agriculture and cooperation," the government said in revised estimates of GDP.     

The agricultural and allied activities grew by 4.5 per cent, compared to earlier estimates of 2.6 per cent, while the manufacturing sector growth has been lowered to 8.8 per cent from 9.4 per cent.    

 

Going by the revised estimates, India's GDP growth stood at nine per cent in 2007-08, compared to 9.6 per cent registered in the previous fiscal.

However, for the fourth quarter of FY08, GDP growth slowed down to 8.8 per cent compared with 9.7 per cent in the corresponding period last year.