2005-06 Overall Economy Indias GDP in 2005-06 is on a higher growth path and has grown at the rate of 8.

.4% in 2005-06 as compared to 7.5% last year. All the major components of the Overall Economy have fared better. Agriculture, forestry & fishing grew at 3.9%. The Overall industry has grown by 8.1 percent in 2005-06 compared to 8.4% in the last year. Manufacturing, Mining, Electricity and construction together posted a growth rate of 8.7% and Services improved slightly at 10% from 9.8% in the previous year . The percentage share of the overall Services sector in the total GDP has improved by registering a higher share of 54% in 200506 compared to 53.2% recorded during the last year. However, Manufacturing, including Mining, Electricity and construction maintained its share in total GDP at 26% in 2005-06 like the previous year, Agriculture sector slided a bit from 20.7% in 2004-05 to 19.9% in 2005-06. In the first quarterly review of the Monetary Policy announced on 25 July 2006, the RBI has maintained the GDP growth projection for 2006-07 at 7.5 8 per cent. GDP 2006-07
Recording another year of impressive performance, the economy grew by 9.6 per cent during 2006-07, leading to over 14 per cent increase in the per capital income. The improved growth in the GDP, up from 9.4 per cent in 2005-06, has been achieved due to all around improvement in mining, manufacturing and services sectors, which helped to offset the slower growth in agriculture sector, according to the quick estimates released by the Central Statistical Organisation (CSO). While agriculture sector grew by 3.8 per cent, down from 6.1 per cent, manufacturing sector recorded 12 per cent growth, which is substantially higher than 9 per cent growth recorded in the previous year.

Likewise, mining and quarrying sector growth also improved from 4.9 per cent to 5.7 per cent, according to quick estimates for national income, consumption, expenditure, saving and capital formation. The impressive showing was also reflected in improvement in per capital income, which increased to Rs 29,642 from Rs 25,956 during 2005-06. The overall improvement in the performance could also be attributed to an impressive 35.9 per cent growth in capital formation that stood at Rs 14,87,786 crore (Rs 14.87786 trillion) during 2006-07. Such higher level of investment was made possible by a significant 34.3 per cent increase in domestic savings that were estimated at Rs 14,41,423 crore (Rs 14.41423 trillion) during 2006-07 at current prices. As per the revised figures of GDP released on Thursday, the economy grew by 9.6 per cent in 2006-07, against previous estimate of 9.4 per cent. The GDP growth figures for 2005-06 has also been revised upward from 9 per cent to 9.4 per cent. In the current financial year, the economy grew by 9.3 per cent in the first quarter and 8.9 per cent in the second quarter. For 2006-07,the construction sector growth has been revised upward to 12 per cent, against 10.7 per cent estimated earlier. At constant prices (1999-00), the share of agriculture, forestry and fishing in the GDP stood at 18.5 per cent in 2006-07, down from 19.6 per cent in the previous year. Meanwhile, the share of manufacturing sector in GDP rose to 15.4 per cent, up from 15.1 per cent during the same period. The share of financing, insurance and real estate in the GDP also increased to 14.3 per cent in 2006-07, compared to 13.8 per cent in the previous year. At current prices, share of food items in private final consumption expenditure stood at 36.4 per cent in 2006-07, marginally up from 36.3 per cent in 2005-06. Meanwhile, share of transport and communication went up to 17.5 per cent from 17.3 per cent during the same period, while share of gross rent, fuel and power consumption declined from 12.6 per cent in 2005-06 to 12 per cent in 2006-07.

GDP 2007-08
Indian economy continued to grow at a rapid pace of 8.6 per cent in the third quarter of the current financial year, led by the manufacturing and services sector while farm growth plunged to a low of 1.5 per cent. The 8.6 per cent expansion during October-December 2006-07 followed the growth of 8.9 per cent and 9.2 per cent in the first and second quarters of this fiscal, taking the average growth so far this year to just below nine per cent. Manufacturing rose 10.7 per cent in the third quarter compared to 8.2 per cent a year ago, while farm sector growth declined to a mere 1.5 per cent as against 8.7 per cent in the third quarter of 2005-06, according to latest government estimates released on Wednesday. In services, construction growth slowed down to 9.8 per cent from 16.6 per cent, financial services rose by 11.6 per cent compared to 9.8 per cent a year ago. Trade, hotels, transport and communication sector witnessed a growth of 13 per cent from 10 per cent a year ago. Growth in the mining sector stood at 5.7 per cent as against 2.7 per cent, while electricity, gas and water supply sectors registered a growth of 9.3 per cent compared to 5 per cent in the year-ago quarter. GDP 2008-09 http://business.mapsofindia.com/india-gdp/real-growth.html Between the period 2007 and 2008, India real GDP growth stood somewhere at 9.20% and 9.00%, respectively. However, owing to the global financial meltdown, witnessed by all the developed and developing nations alike, with few still managing to perform better, the GDP growth rate of India drastically fell down to 7.40 %. This also added to the increase of fiscal deficit in India by 10.3% in the same period, making it the highest in the world. Manufacturing industry registered a growth of only 2.4% in 2008-09 as against 8.2% in 2007-08. Agriculture saw a rise of 1.6% in the current fiscal as against 4.9% in 2007-08. Community and social and personal services, which reflected positive growth in the current financial year, grew by 13.1% in 200809 from 6.8% in the previous financial year.

Mining and quarrying also showed improvement by touching 3.6% growth rate from 3.3%. Gas, electricity and water supply including other services sectors showed marginal growth in 2008-09 reaching 3.4% as against 5.3% in 200708. Hotels, trade and transport sectors posted 8.1% growth as against 13% in the last fiscal.

GDP 2009-10

The growth rate of Indian GDP fell from 7.35% in 2008-09 to 5.36% till the end of 3rd quarter of the 2009-10. The cumulative FDI Equity inflows (from August 1991 August 2009) stood at ` 5,20,589 crore. Budgetary support for National Highway Development Programme (NHDP) has gone by 23% on y-o-y basis for 2009-10. Expenses for the Commonwealth Games 2010, went up from Rs.2,112 crore in Interim Budget to Rs.3,472 crore for 2009-10 fiscal. Allocation to railways have gone up from Rs.10,800 crore in interim budget toRs.15,800 crore for FY 2009-10. Allocation under National Rural Health Mission (NRHM) has gone up by Rs.2,057 crore over Interim Budget estimate in 2009-10 of Rs.12,070 crore. Rs.2,113 crore has been allocated for IITs and NITs, comprising of a provision of Rs.450 crore for new upcoming IITs and NITs. Minimum Alternate Tax (MAT) to go up to 15% from 10%.