GDP growth for FY15 revised down to 7.2%
The Central Statistics Office (CSO) has marginally revised downward the GDP growth for 2014-15 to 7.2% from the earlier estimate of 7.3% after factoring in the latest data on agriculture and industrial production.
“The real GDP 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% during 2014-15, and 6.6% during 2013-14,” said CSO revised estimates of national accounts released today.
GDP growth rate for 2013-14 has also been revised downwards to 6.6% from earlier estimate of 6.9%.
According to the statement, estimates of GDP and other aggregates for the years 2011-12 to 2013-14 have also undergone revision due to use of latest available data on agricultural production and industrial production.
Aditi Nayar, economist, ICRA, said the revised data has pared down the GDP at current prices in absolute terms for each of the years between 2011-12 and 2014-15.