The Indian economy is expected to grow at 5 % in FY 2012-13, the lowest in a decade, due to poor performances of manufacturing, agriculture and services sectors.
The CSO estimate is a lot lower than the government projections so far. As compared to the growth rate of 6.2 % in 2011-12, it’s a steep fall as per the advance estimates of the Central Statistical
The latest estimates project the agriculture and related activities growth at 1.8 % in 2012-13, compared to 3.6 % in 2011-12. The manufacturing growth is also expected to drop to 1.9 % from 2.7 % last year. The services sector is likely to grow 8.6 %, as against 11.7 % last fiscal.