Administration Revises GDP Growth Estimate For Fy’10

GDPThe administration today reviewed the gross domestic product growth rate for the 2009-10 fiscal year upward to 8% as against the previous figure of 7.4% on account of enhanced recital of the manufacturing and services segments.

The official data stated, "The growth rate of 8 per cent in the GDP during 2009-10 has been achieved due to high growth in manufacturing (8.8 per cent), financing, insurance, real estate & business services (9.2 per cent), transport, storage and communication (15.0 per cent), community, social and personal services (11.8 per cent)."

Besides, the GDP increase estimate for FY2008-09 has been refreshed slightly upward to 6.8% as compared to the earlier approximation of 6.7 per cent.

Agriculture division registered 0.4 per cent increase in FY2009-10 after seeing a 0.1 per cent rejection during FY2008-09, the data showed.

Moreover, the mining and quarrying divisions recorded 6.9 per cent development in FY'10, as compared to 1.3 per cent growth during the last fiscal year.

In addition, electricity, gas and water production posted 6.4 per cent increase during FY'10 as against 4.9 per cent expansion in FY'09.