Indian Economy's GDP Pegged at 5%

The government of India has estimated the Gross Domestic Product (GDP) rate at 5 per cent for the fiscal year 2012-13, which is much lower from the projection of 5.5 per cent.

According to the Advanced Estimates released today by the Central Statistical Organisation (CSO), the economy would like to have 5 per cent GDP growth rate during 2012-13.

In 2011-12, the GDP was at 6.2 per cent. The slide in the growth rate of Indian economy has been indicated that it is reeling under the clutches of global slowdown.

The poor performance of many sectors of Indian economy hold the growth rate to much lowest level of 5 per cent.

On Thursday, after estimation of the GDP of Indian economy, the Sensex went down by 56.78 points at 19,582.94 points. The Nifty was also seen in red in post lunch session, it was at 5,937.95 points shedding 21.25 points or 0.36% loss.