NEW DELHI (Commodity Online): Desipte the robust performance of India's service sector, the country's Gross Domestic Product (GDP) is expected to grow 6.9% in 2011-12 due to the slow growth of in manufacturing, agriculture and construction sectors, according to Central Statistics Office (CSO).
During 2010-11, India's GDP grew 8.4%.
The current estimate is lower than the earlier growth predicted. the policy makers had forecast the GDP to be around 7-7.5%.
Recently, India's Apex bank, Reserve Bank of India (RBI), had pulled down the growth forecast to 7%.
In 2011-12, agriculture is expected to grow 2.5% compared to 7% previous year while, manufacturing sector growth is estimated at 3.9% lower than 7.6% in 2010-11.
Meanwhile, the sevice sector is estimated to grow above 8% during 2011-12.
