The economic growth for 2004-05 was revised upwards to 7.5 per cent as against the earlier estimate of 6.9 per cent.
The quick estimate of Central Statistical Organisation released in New Delhi on Tuesday said the revision was necessary due to the change in base year to 1999-2000 from 1993-94.
The GDP growth rate of 7.5 per cent during 2004-05 was, however, lower than 8.5 per cent growth registered in 2003-04, the quick estimates said.
The GDP at factor cost at constant prices with base year 1999-2000 is estimated at Rs 23,93,671 crore (Rs 23,936.71 billion) during 2004-05 compared to Rs 22,26,041 crore (Rs 22,260.41 billion) a year ago, registering a growth of 7.5 per cent.
The slowdown in GDP growth during 2004-05 was largely due to a sharp decline in agriculture. The farm sector grew by only 0.7 per cent during the year as compared to 10 per cent in 2003-04.
Manufacturing sector rose by a strong 8.1 per cent as against 7.1 per cent a year ago and construction grew by a robust 12.5 per cent from 10.9 per cent in 2003-04.
Mining sector grew by 5.8 per cent in 2004-05 as against 5.3 per cent a year ago while electricity, gas and water supply slowed down to 4.3 per cent from 4.8 per cent.
Trade and hotels sector registered a growth of 8.1 per cent compared to 10.2 per cent. Communication and transport sector grew by 14.8 per cent compared to 15.2 per cent.
Financing, insurance, real estate and business services was up by 9.2 per cent from 4.5 per cent. Community and social services also grew by 9.2 per cent during 2004-05 compared to 5.4 per cent in 2003-04.
At current prices, GDP grew 11.8 per cent in 2004-05 to Rs 28,43,897 crore (Rs 28,438.97 billion) compared to Rs 25,43,396 crore (Rs 25,433.96 billion) in 2003-04.
The per capita income in real terms (at 1999-2000 prices) registered a growth of 6.1 per cent to Rs 19,649 in 2004-05 from Rs 18,517 a year ago.
At current prices, per capital income depicted a growth of 9.8 per cent to Rs 23,222 in 2004-05 as against Rs 21,142 in 2003-04, as per estimates released on Tuesday.