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TABLE-India pegs 2014/15 growth at 7.4 pct; GDP grows 7.5 pct y/y in Dec qtr
February 9, 2015 / 1:16 PM / 3 years ago

TABLE-India pegs 2014/15 growth at 7.4 pct; GDP grows 7.5 pct y/y in Dec qtr

Feb 9 (Reuters) - The Indian government on Monday forecast
annual economic growth to accelerate to 7.4 percent in the
fiscal year ending in March 2015 after Asia's third-largest
economy grew 7.5 percent in the quarter to end-December.
    The latest estimate compares with a revised 6.9 percent
growth a year earlier and is based on the new formula the 
statistics department has started using to measure the economy.
    India now measures GDP by market prices instead of factor
costs, to take into account gross value addition in goods and
services as well as indirect taxes. Besides, the base year has
been shifted to 2011/12 from 2004/05 earlier.
    It also sharply revised up growth for the first half of
fiscal 2014/15 to about 7.4 percent from 5.5 percent reported
earlier under the old method.
   
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                                      ALL IN PCT
    Item                               Q3FY15   Q2FY15  Q3FY14
Agriculture, forestry & fishery        -0.4      2.0       3.8
Mining & quarrying                      2.9      2.4       4.2
Manufacturing                           4.2      5.6       5.9
Electricity, gas and water supply      10.1      8.7       3.9
Construction                            1.7      7.2       3.8
Trade, hotels, transport & comm.        7.2      8.7      12.4
Financing, insurance, real estate      15.9     13.8       5.7
Community, social & personal service   20.0      6.0       9.1
GVA at basic prices                     7.5      7.8       6.6
GDP at market prices                    7.5      8.2        NA
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SOURCE: Ministry of Statistics & Programme Implementation
Base year: 2011/12 prices

 (Compiled by Rajesh Kumar Singh in NEW DELHI; Editing by Malini
Menon)

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