GDP growth revised to 8% for FY10

The Central Statistical Organisation revised growth in the gross domestic product (GDP) for 2009-10 to 8% from the previous 7.4% due to robust growth in manufacturing and services sectors. The government also revised the GDP growth for 2008-09 marginally to 6.8% from the previously announced 6.7%. The per capita income at 2004-05 prices is estimated at Rs 33,731 for 2009-10, up from Rs 31,801 in 2008-09, showing an increase of 6.1%. Per capita income at current prices rose 14.5% to Rs 46,492 in 2009-10 compared to Rs 40,605 crore in the previous fiscal. Per capita income refers to the earnings of each citizen in the country if the national income is equally divided among the population. National income or the size of the economy rose 16.1% at current prices to Rs 60,95,230 crore compared to Rs 52,49,163 crore in 2008-09. “The growth rate of 8% in the GDP during 2009-10 has been achieved due to high growth in transport, storage and communication (15%), community, social and personal services (11.8%), financing, insurance, real estate and business services (9.2%) and manufacturing (8.8%),” CSO said.