Economy Expands At 4.7% in 2013-14

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Economy Expands At 4.7% in 2013-14 www.ambitionias.com
  • According to the latest gross domestic product (GDP) provisional estimates, economic growth has increased to 4.7% in 2013-14 from a decade-low 4.5% the previous year.
  • This may be attributed to good harvests in both seasons that had boosted the farm sector growth.
  • Manufacture, mining, infrastructure registered a decline.
  • Investment and capital formation also reduced due low movement in infrastructure and high interest rates.
  • For the 2nd year in a row, GDP it has remained below 5%.
  • While the announcements by the new govt have uplifted the general morale of the industries, much more is required to boost the economy with special emphasis on effective implementation and timely action.
  • Growth rate is expected to rise to 4.9%, per capital income by 2.7%.
  • Read at: http://www.thehindu.com/todays-paper/tp-business/economy-expands-47-in-201314/article6068302.ece

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