Shilpa C, Student, Apeejay Institute of Mass Communication

The economic growth is likely to fall to a three-year low of 6.9 per cent in 2011-12, mainly due to sharp slowdown in manufacturing, agriculture and mining sectors, against 8.4 per cent expansion in the last fiscal.

Agriculture and allied activities are likely to grow at 2.5 per cent in 2011-12, compared to a robust growth of 7 per cent in 2010-11, according to the Advanced Estimates released on Tuesday by the Central Statistical Organisation (CSO).

Manufacturing growth is also expected to drop down to 3.9 per cent in this fiscal from 7.6 per cent last year. The CSO’s GDP growth projection is a tad lower than the 7 per cent forecast made by the Reserve Bank of India in its quarterly monetary policy review January 2012.

Advertisements