Eco growth in '09 at 6.7% by both revised and old methods

New Delhi, Jan 29 (PTI) India's economy expanded by
6.7 per cent in 2008-09 fiscal, according to revised estimates
based on a new calculation methodology.

Earlier estimates based on the old methodology, released
last year, had also shown the pace of economic expansion to be
6.7 per cent.
The new approach of calculating national income took into
account 2004-05 prices while the earlier estimate was based on
1999-2000 prices.
Gross Domestic Product (GDP) was estimated at Rs41,54,973
crore during 2008-09, as per the new series, against 33,39,375
crore according to the old process.
In the past four fiscals, the economic growth was revised
only once for 2007-08 to 9.2 per cent from 9 per cent.
According to an official statement, the per capita
income, the average income of an Indian, was revised to Rs
40,141 in a year during 2008-09 against Rs 37,490 a year
estimated earlier.
After changing the base year, the contribution of
agriculture to the national income was down to 18.9 per cent
during 2008-09 from 19.2 per cent.
The contribution of manufacturing to the national income
was lower to 15.3 per cent from 15.8 per cent.
However, construction chipped 7.7 per cent to national
income, against 7.4 per cent in the old series. PTI TAN
RBT


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