Farm output, govt spend power FY09 GDP growth to 6.7%
May 30th, 2009
The much-awaited gross domestic product (GDP) growth number for the full year, FY2008-09, came in at 6.7% versus a projection of 7.1%. The GDP growth for the last financial year, FY08, stood at 9%. The numbers for the fourth quarter of FY09 also came in at 5.8% versus 5.3% last quarter and 8.8% a year ago.
While the official estimate for the full year stood at 7.1%, most experts said the forecast was a little on the higher side and that it would come near the 6.5% range.