FY05 GDP growth slows to 6.9%

Powered by a 9.2% growth in the manufacturing sector, economic growth stood at 6.9% in 2004-05 fiscal when compared with 8.5% in FY04.

According to estimates released by the Central Statistical Organisation (CSO), the GDP growth rate during the last quarter of 2004-05 stood at 7% as against 6.4% during the third quarter of 2004-05.

The agriculture sector showed a marginal improvement between January-March by growing at 1.8% as against a negative 0.5% growth during the third quarter of 2004-05.

The agriculture, forestry and fishing sector grew by 1.1% in FY05 as against 9.6% in FY04.