Govt lowers 2014-15 GDP growth estimate to 7.2%
NEW DELHI: The government on Friday lowered India’s economic growth for 2014-15 to 7.2% from the earlier estimate of 7.3% based on latest farm and factory output data.
The Central Statistics Office (CSO) also lowered growth for 2013-14 to 6.6% from 6.9% earlier.
“The real (inflation-adjusted) GDP or GDP at constant (2011-12) prices for the years 2014-15 and 2013-14 stand at R105.52 lakh crore and R98.39 lakh crore, respectively, showing growth of 7.2% in 2014-15 and 6.6% in 2013-14,” the CSO said in a statement.
The downward revision in growth estimates, albeit marginal, came a day after Reserve Bank governor Raghuram Rajan raised questions over the new methodology to calculate India’s national income.
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