Government today revised the economic growth for fiscal 2011-12 to 6.2% from the earlier estimate of 6.5%.
However, as per the first revised estimates of national income, consumption expenditure, saving and capital formation, the GDP (Gross Domestic Product) for the fiscal 2010-11 has been revised upwards to 9.3% from 8.4%.
"GDP at factor cost at constant (2004-05) prices in 2011-12 is estimated at Rs 52,43,582 crore as against Rs 49,37,006 crore in 2010-11, registering a growth of 6.2% during the year as against a growth of 9.3% in the year 2010-11," the estimates showed.
The estimates were released by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation for 2011-12, along with second revised estimates for the year 2010-11 and third revised estimates for 2009-10.
At current prices, CSO said that GDP in 2011-12 is estimated at Rs 83,53,495 crore as against Rs 72,66,967 crore in 2010-11, showing an increase of 15%, as against an increase of 19% in the previous fiscal.
The CSO said that the per capita income in real terms (at 2004-05 prices) is estimated at Rs 38,037 for 2011-12 as against Rs 36,342 in 2010-11, registering an increase of 4.7% during the year, as against an increase of 7.2% during the previous year.
The per capita income at current prices is estimated at Rs 61,564 in 2011-12 as against Rs 54,151 for the previous year, depicting a growth of 13.7%, as against an increase of 17.1% during the previous year.
The data further further said that the growth in the GDP during 2011-12 has been achieved due to expansion in financing, insurance, real estate and business services (11.7%), transport, storage and communication (8.4%), electricity, gas and water supply (6.5%) and trade, hotels and restaurants (6.2%).
