2012-13 GDP growth rate falls to 5 pct,lowest in a decade

But in a sign of comfort to the government,the fiscal deficit numbers for the year have turned out to be impressive. It has come in below 5 per cent 4.9 against the revised target for the year of 5.2 per cent.

Finance Minister P Chidambaram said the data was in line with expectations. I dont wish to compress expenditure,therefore revenues must go up to compensate. For 2013-14,we have to do much better than 4.8 per cent, he said.

But the countrys chief statistician T C A Anant said it is too early to say that growth had bottomed out. Though the fourth quarter data shows some improvement,it is a mixture of some positive and negative indicators, Anant told The Indian Express.

Investors were left jittery by the GDP numbers and the BSE Sensex fell 455 points to close at 19,760.

The data also revealed a slowdown in private consumption,capital investments and of government spending,which have pulled down growth prospects for this fiscal too.