The Indian economy expanded by 7.3 per cent (provisionally) in the year ended March, a four-year high. The expansion in gross domestic product trumped the previous year's 6.9 per cent and was the highest the South Asian nation has seen since the year ended March 2011. The GDP growth rate for first quarter of FY15 was revised upwards to 6.7 per cent compared with an earlier estimate of 6.5 per cent. While, the Q3 GDP growth was revised down to 6.6 per cent compared with 7.5 per cent earlier. But the Q2 GDP growth was revised to 8.4 per cent compared with earlier estimate of 8.2 per cent.
On quarterly basis, growth rates in various sectors are as follows: 'agriculture, forestry and fishing' (-1.4 percent), 'mining and quarrying' (2.3 percent), 'manufacturing' (8.4 percent), 'electricity, gas, water supply and other utility services' (4.2 percent) 'construction' (1.4 percent), 'trade, hotels, transport and communication' (14.1 percent), 'financial, real estate and professional services' (10.2 percent), and 'Public administration, defence and other Services' (0.1 percent).
The real GDP or GDP at constant (2011-12) prices in the year 2014-15 is now estimated at Rs 106.44 lakh crore (as against Rs 106.57 lakh crore estimated earlier on 9th February, 2015), showing a growth rate of 7.3 per cent (as against 7.4 per cent estimated earlier) over the New Series/First Revised Estimates of GDP for the year 2013-14 of Rs 99.21 lakh crore, released on 30th January 2015.
The key indicators of railways, namely, the net tonne kilometers and passenger kilometers have shown growth rates of 3.5 percent and 2.4 percent, respectively in Q4 of 2014-15, as against the growth rates 1.2 percent and 0.8 percent, in the corresponding period of previous year. In the transport and communication sectors, the sale of commercial vehicles and cargo handled at major ports, registered growth rates of 3.5 percent and 4.4 percent respectively in Q4 of 2014-15 as compared to the growth rates of (-)24.1 percent and 1.3 percent respectively in these sectors in Q4, 2013-14. The Trade, hotels and transport sector have registered a growth of 14.1 percent in 2014-15 as against 9.9 percent in Q4 of 2013-14. Further, there was significant growth in the private corporate sector in the last quarter of 2014-15 in the case of trade and communication. The sector Public administration, defence and other services' has shown a growth rate of 0.1 per cent in Q4 of 2014-15 as against the growth rate of 2.4 per cent in 2013-14 mainly due to decrease in total expenditure of Central Government . The Central Government revenue expenditure net of interest payments showed a decline of 3.0 per cent during Q4 of 2014-15 as compared to 2013-14.
The per capita income at current prices during 2014-15 is estimated to have attained a level of Rs 87,748 as compared to the New Series/First Revised Estimates for the year 2013-14 of Rs 80,388 showing a rise of 9.2%.
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