Economy grows at 5.3 percent in second quarter

New Delhi,Business/Economy, Fri, 30 Nov 2012 IANS

New Delhi, Nov 30 (IANS) India's economy grew at a sluggish 5.3 percent in the second quarter of 2012-13, slipping from the 6.7 percent growth posted in the corresponding quarter last fiscal, official data showed Friday.

The July-September data is lower than the 5.5 percent growth registered in the gross domestic product (GDP) during the quarter ended June 30.

The sluggish growth in the second quarter was mainly on account of a mere 0.2 percent growth in the manufacturing sector, against 3.4 percent in the corresponding quarter the previous fiscal.

The farm sector growth dropped from to 3.1 percent to 1.2 percent.

Similarly, the electricity sector's growth slumped from 10.5 percent in the second quarter of 2011-12 to 2.8 percent, according to data released by the Central Statistical Organisation (CSO).

However, mining and quarrying sectors showed improvement, with a growth of 1.9 percent from a decline of 5.4 percent in the corresponding quarter last year.

The construction sector grew by 6.7 percent from 6.3 percent posted in the second quarter of 2011-12.

India's GDP growth slumped to 6.5 percent in 2011-12, even lower than the 6.7 percent level achieved during the global financial crisis of 2008-09.

The economy had expanded by 8.4 percent in 2010-11.

India's GDP at factor cost at constant (2004-05) prices is estimated at Rs.12,93,922 crore in the second quarter of 2012-13, compared to Rs.12,28,982 crore during the corresponding period last year, showing a growth rate of 5.3 percent, the CSO data showed.



Read More: N.t.p.c./sector-10 Faridabad | Central Market | Central Jail So | L.s.farm | Gb Central Bus Stand | Central Leather Research Insti | Central Vehicle Depot | Central Institute Of Technolog | Central Station | Tuticorin Central Bus Stand | Coimbatore Central | Paloorkavu Central | Kalla Central Hospital | Central Agriculture University | K.sector | Central Institute of Psychiatry, Ranchi | Central Institute of Indian Language | Central University of Tibetan Studies | Euro 2012 | Central Teacher Eligibility Test CTET

LATEST IMAGES
Dr. Farooq Abdullah at New Delhi World Book Fair 2014 Shahnawaz Hussain address at a Hawkers Dharna DPCC President Arvinder Singh Lovely meets LG Najib Jung Gopal Rai address Training program conducted by AAP Delhi CM promises to hike fair in favor of auto-rickshaw drivers
MORE...
Social bookmark this page



Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image
 
 

Comments: