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The Central Statistical Organisation has released the advance estimates of national income aggregates for the financial year 2005-06. According to these estimates, GDP growth for the current financial year is expected to touch 8.1 per cent as against 7.5 per cent during the pervious year 2004-05. GDP at factor cost at 1999-00 prices in 2005-06 is projected Rs25,86,587 crore as against Rs23,93,671 during the previous year. National Income at 1999-00 prices in 2005-06 is expected to touch Rs23,04,043 crore as compared to Rs21,41,776 in 2004-05. Per Capita Income at 1999-00 prices for 2005-06 is expected to move up to Rs20,813 as compared to Rs19,649 in 2004-05. Sector-wise growth estimates
| Sector | 2005-06 estimates | 2004-05 actual | | Agriculture | 2.3 | 0.7 | | Mining | 1.0 | 5.8 | | Manufacturing | 9.4 | 8.1 | | Electricity & Water supply | 5.4 | 4.3 | | Construction | 12.1 | 12.5 | | Trade, Hotels, Transport & Comm | 11.1 | 10.6 | | Finance & Real estate | 9.5 | 9.2 | | Social & Personal services | 7.9 | 9.2 | | GDP (factor cost) | 8.1 | 7.5 | The major driver of higher growth expected this year is a revival in agriculture. From a dismal 0.7 per cent, farm output is forecast to grow at a much healthier 2.3 per cent. Though manufacturing growth is expected to decline as compared to the previous year, it is still healthy at over 8 per cent. The sharp decline in mining output growth from 5.8 per cent to just 1 per cent is disappointing. The boom in real estate sector is correctly reflected in the higher growth rate expected for the construction sector. The services sector is forecast to maintain growth rates more or less at pervious year levels.
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