Gross domestic product (GDP) of the country is estimated to have grown at 8.2 per cent year-on-year in the third quarter of the current fiscal (at factor cost at constant 2004-05 prices) to Rs12,61,664 crore, from Rs11,66,145 crore in Q3 of 2009-10.
Agriculture, forestry and fishing recorded the highest growth rate of 8.9 per cent, followed by construction at 8.0 per cent, trade, hotels, transport and communication at 9.4 per cent and financing, insurance, real estate and business services at 11.2 per cent.
Mining and quarrying, manufacturing and community, social and personal services recorded growth rates of 6.0 per cent, 5.6 per cent and 4.8 per cent, respectively during the quarter, official data released by the Central Statistical Organisation (CSO) showed.
As per the second advance estimates of production of crops released on 9 February 2011, 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 per cent and 52.8 per cent, 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 of 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 per cent and 50 per cent in Q3 of 2009-10.
In the service sector, 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.