India feels the squeeze: GDP growth revised to 4.5% from 5% for FY13

Feb 01 2014, 08:42 IST
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However, GDP growth in India for 2011/12 fiscal year was upwardly revised to 6.7 percent from 6.2 percent. (Reuters) However, GDP growth in India for 2011/12 fiscal year was upwardly revised to 6.7 percent from 6.2 percent. (Reuters)
SummaryGDP growth rate in India was revised downward from 5.0 per cent earlier.

sector was hurt by curb on iron ore mining in Karnataka, Goa, Orissa and stagnant coal production. Iron ore exports dropped to less than a third in 2012-13, while coal imports are rising at 25% annually to bridge a domestic shortfall.

In current prices, private final consumption expenditure (PFCE) growth dropped to 12.3% last fiscal from 18% a year before, while that of government final consumption expenditure (GFCE) inched up marginally 15.9% from 15.3%, the data showed. Overall consumption expenditure grew 12.9% in the March quarter.

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