GDP Growth for 2012-13 is estimated at 5%. Nominal growth is 13.3% and once you deflate this for inflation, the figure of 5% comes through.
This is the lowest growth number since 2002-03, and the lowest nominal growth figure since 2005-06 (nominal growth can be low with an even lower inflation number to get a high real growth).
IMF meanwhile thinks we’ll do 5.4%. But then, they think our fiscal deficit is 8.7%, which would make Chidambaram bust a vessel or something.
We’ve seen a decline in growth rates in all except Mining, Construction and Social/personal services.
This data may not be trustworthy and to be fair, these are early estimates only.
cOfficial figures for the December quarter come only on Feb 28, the same day as the budget.