As per the Quick estimates, the GDP growth for 2010-11 was revised down to 8.39% from 8.55% reported earlier, mainly due to sharp downward revision for the growth of industrial sector to 7.2% from 7.9% estimated earlier. Meanwhile, the growth of the agricultural sector was revised upward to 7.0% from 6.6% earlier. However, the growth of Services sector was nearly steady at 8.35% for 2010-11.
The CSO has shapely scaled up GDP growth estimate for 2009-10 to 8.39% from 7.96% reported earlier. The growth of all three major sub-groups of GDP was sharply revised upward for 2009-10. As per the revised figures, the growth of GDP emanating from Agriculture sector was higher at 1.0% compared to 0.4% reported earlier. The growth of industrial and services sector was also revised upward to 8.4% and 10.5% for 2009-10 from earlier estimates of 8.0% and 10.1%.
The share of services sector in GDP has further inched up to 57.7% during 2010-11, while that of agriculture and industrial sector declined to 14.5% and 27.8%, respectively.
The Gross Domestic Saving dipped to 32.3% of GDP during 2010-11 from 33.8% of GDP in 2009-10, led by sharp fall in household saving to 22.8% from 25.4%. The saving of private corporate sector declined to 7.9% during 2010-11 from 8.2% in 2009-10, while that of public sector increased to 1.7% from 0.2%.
The gross domestic capital formation eased slightly to 35.8% during 2010-11 form 36.1% in 2009-10. The share of public and private corporate sector declined to 8.8% and 12.1% during 2010-11, while that of household sector and valuables increased to 12.8% and 2.1%.
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