GDP grew 5.8% in Jan-March quarter

India’s economy expanded 5.8% in the three months to March 31. This matched the revised gain of the previous quarter. This growth is however, still at almost half the pace at which India expanded in the past five years . The Central Statistical Organisation (CSO), Ministry of Statistics and Programme Implementation, has released the revised estimates of national income for the financial year 2008-09 and the quarterly estimates of Gross Domestic Product (GDP) for the fourth quarter (January-March) of 2008-09, both at constant (1999-2000) and current prices.

GDP at factor cost at constant (1999-2000) prices in Q4 of 2008-09 is estimated at Rs9,029.24bn , as against Rs8,537.85bn in Q4 of 2007-08, showing a growth rate of 5.8%. The sectors which registered significant growth rates in Q4 of FY09 over Q4 of FY08 are ‘construction’ at 6.8%, 'trade, hotels, transport and communication' at 6.3%, 'financing, insurance, real estate and business services' at 9.5%, and 'community, social and personal services' at 12.5%.