Indian Govt lowers 2012-13 economic growth to 4.5% from 5%

Updated : 01-Feb-2014

The government on Friday said the economy may have expanded by 4.5 percent in 2012-13, compared with the earlier estimate of 5 per cent, on account of subdued performance in agriculture, mining and manufacturing.

However, gross domestic product (GDP) growth in 2011-12 has been revised upwards to 6.7 percent from 6.2 percent, according to the estimates of National Income, Consumption Expenditure, Saving and Capital Formation.

Important to Note : 

Growth in 2012-13 is the lowest in a decade, with the previous low of 4 percent recorded in 2002-03.