India's GDP grows 6 per cent to Rs11,58,764 crore in Q3 FY'10
26 Feb 2010
India's gross domestic product (GDP) increased 6 per cent at constant prices and 11.9 per cent at current prices in the third quarter of fiscal 2009-10, helped by strong performance in manufacturing, construction and service sectors.
GDP at factor cost at constant (2004-05) prices recorded a growth of 6.0 per cent at Rs11,58,764 crore in October-December 2009-10 compared with Rs10,93,167 crore in the similar quarter of the previous fiscal (2008-09), according to quick estimates released by the Central Statistical Organisation (CSO).
GDP at factor cost at current prices in Q3 of 2009-10 is estimated at Rs15,54,310 crore, as against Rs13,88,512 crore in Q3 of 2008-09, showing an increase of 11.9 per cent.
The economic activities which registered significant growth in Q3 of 2009-10 over Q3 of 2008-09 are, mining and quarrying (9.6 per cent), manufacturing (14.3 per cent), construction (8.7 per cent), trade, hotels, transport and communication (10.0 per cent), finance, insurance, real estate and business services (7.8 per cent), an official release said.
However sectors like agriculture, social services etc registered negative growth rates. CSO has estimated growth rate in `agriculture, forestry and fishing' and 'community, social and personal services' at (-) 2.8 per cent and (-) 2.2 per cent, respectively. This has been attributed mainly to a high base in Q3 of 2008-09, following the implementation of Sixth Central Pay Commission's recommendations.
The estimate of GDP from agriculture in Q3 of 2009-10 has been lower as the crops of rice, coarse cereals and pulses during the Kharif season of 2009-10 have declined by 14.2 per cent, 20.3 per cent, and 10.0 per cent, respectively over the corresponding season in the previous agriculture year.
