GDP to slowdown to 7.1pc for FY 09

New Delhi, Feb 9: As the impact of global economic meltdown still hangs on, Indian economic growth might slow down to 7.1 per cent in the current fiscal year against 9 per cent in 2007-08, government projected on Monday, Feb 9.

It seems slowing economic growth has not showed much impact on GDP. Indian economic growth is on expected lines and the rate projected has been predicted by the Prime Minister's Economic Advisory Panel.

Manufacturing, agriculture, power, construction and financial services are likely to pull down economic growth, whereas services including trade and hotels as well as mining are projected to give a boost to the economy.

Agriculture is set to grow by 2.6 per cent in 2008-09 against 4.9 per cent in the last fiscal. Manufacturing is likely to expand by 4.1 per cent against 8.2 per cent, and construction by 6.5 per cent against 10.1 per cent.

Financial, insurance, real estate and business services are set to grow by 8.6 per cent against 11.7 per cent. Against 12.4 per cent, hotels, transport and communication is projected to grow by 10.3 per cent.

Social and Personal services is projected to grow by 9.3 per cent against 6.8 per cent. All these advance estimates are done by the Central Statistical Organisation.

OneIndia News (With inputs from Agencies)