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Industry Keeps Dragging GDP Growth

PUBLISHED BY: SURENDER KUMAR
MARCH 01, 2014

   
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Industry Keeps Dragging GDP Growth

 

 

The third quarter of the ongoing FY 2013-14 has thrown up pretty disappointing GDP growth figures. At 4.7%, it is lower than expected, raising question marks over the economy achieving the overall anticipated growth of 4.9 % in this fiscal year. The GDP growth has been less than 5 % for at least 7 successive quarters, confirming the trend of weak growth.


Both manufacturing (-1.9 %) and mining (-1.6 %) shrank and continued to drag economic growth while farm growth rose to 3.6 % (+0.8 %). For the economy to achieve an overall GDP growth of 4.9 % in FY 2013-14, the required GDP growth rtae for the fourth quarter will have to be be 5.7%. The fourth quarter is likley to see a sharp rise in farm output, manufacturing growth and continued robust performance in financal services.



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