FY04 GDP growth revised to 8.5%

The government today revised upwards economic growth to 8.5% for 2003-04 from the earlier estimate of 8.2%, mainly due to the bumper agricultural growth of 9.6%.

The high GDP growth of 8.5% in FY04 came after a lower growth of just 4% in 2002-03, according to the quick estimates of national income released by the Central Statistical Organisation.

Manufacturing also registered a growth of 6.9% during the last fiscal as against 6.5% in 2002-03. Estimates show that agriculture production fell by 7% in 2002-03.