GDP growth for 2014-15 marginally revised down to 7.2%
Government of India has marginally revised downward the economic growth for 2014-15 to 7.2 per cent from the earlier estimate of 7.3 per cent after factoring in latest data on agriculture and industrial production. As per the Central Statistics Office‘s (CSO) revised estimates the realGDP or GDP at constant (2011-12) prices for the years 2014-15 and 2013-14 stands at Rs 105.52 lakh crore and Rs 98.39 lakh crore, respectively, showing growth of 7.2 per cent during 2014-15, and 6.6 per cent during 2013-14. GDP growth rate for 2013-14 has also revised downwards to 6.6 per cent from earlier estimate of 6.9 per cent.
The growth rate in secondary sector estimated at 5.4 per cent down from earlier projection of 6.3 per cent. However the growth rate for the primary (farm and allied activities) and tertiary (services) sectors have been revised upwards to 1.3 per cent and 10.3 per cent, from earlier estimates of 0.3 and 10.2 per cent respectively.