India GDP Growth Slows to 8.2% in Q4

India's economy grew 8.2% compared to the same period a year earlier between October and December, government data showed on March 1., MOSPI 3/1/2011 11:20:15 AM

Quarterly GDP at factor cost at constant (2004-05) prices for Q3 of 2010-11 is estimated at Rs. 12,61,664 crore, as against Rs. 11,66,145 crore in Q3 of 2009-10, showing a growth rate of 8.2 per cent over the corresponding quarter of previous year.

The economic activities which registered significant growth in Q3 of 2010-11 over Q3 of 2009-10 are: agriculture, forestry & fishing at 8.9 per cent, construction at 8.0 percent, trade, hotels, transport and communication at 9.4 per cent, and financing, insurance, real estate and business services at 11.2 per cent. The growth rate in mining& quarrying, manufacturing and community, social and personal services is estimated at 6.0 per cent, 5.6 per cent and 4.8 per cent respectively in this period.

According to the second advance estimates of production of crops released on 9.2.2011 by the Department of Agriculture and Cooperation (DAC), which has been used in compiling the estimate of GDP from agriculture in Q3 of 2010-11, production of rice, coarse cereals and pulses during the Kharif season of 2010-11 is estimated to have increased by 5.6 per cent, 28.2 percent and 52.8 percent, respectively over the corresponding season in the previous agriculture year. Among the commercial crops, the production of oilseeds and sugarcane is estimated to have increased by 15.8 per cent and 15.2 per cent, respectively during the Kharif season of 2010-11, while the production of cotton is expected to grow by 40.0 per cent during the agriculture year 2010-11. However, horticultural crops and livestock products are expected to grow at 5.6 per cent and 4.7 per cent, respectively during 2010-11.

According to the latest estimates available on the Index of Industrial Production (IIP), the index of mining, manufacturing and electricity, registered growth rates of 5.8 per cent, 5.1 per cent and 6.5 per cent, respectively in Q3 of 2010-11, as compared to the growth rates of 10.3 per cent, 14.4 per cent and 3.8 per cent in these sectors in Q3 of 2009-10. In the mining sector, production of coal, crude oil and natural gas registered growth rates of 1.5 per cent, 15.5 per cent and 3.7 percent in Q3 of 2010-11, as against the growth rates of 4.6 per cent, (-)0.9 percent and 50 per cent in Q3 of 2009-10.

Among the services sectors, the key indicators of railways, namely, the net tonne kilometers and passenger kilometers have shown growth rates of 4.0 per cent and 6.2 per cent, respectively in Q3 of 2010-11, as against the growth rates of 12.5 per cent and 6.7 per cent, in the corresponding period of previous year. In the transport and communication sectors, the production of commercial vehicles, cargo handled at major ports, cargo handled by the civil aviation and the total stock of telephone connections (including WLL and cellular) registered growth rates of 22.1 per cent, 0.86 per cent, 12.2 per cent and 40.0 per cent, respectively in Q3 of 2010-11 over Q3 of 2009-10. The key indicators of banking, namely, aggregate bank deposits and bank credits have shown growth rates of 18.8 per cent and 27.9 per cent, respectively during April-December, 2010-11 over the corresponding period in 2009-10.

India GDP Growth Slows to 8.2% in Q4