Government of India has marginally revised downward the economic growth for 2014-15 to 7.2 per cent from the earlier estimate of 7.3 per cent after factoring in latest data on agriculture and industrial production. As per the Central Statistics Office‘s (CSO) revised estimates the real GDP or GDP at constant (2011-12) prices for the years 2014-15 and 2013-14 stands at Rs 105.52 lakh crore and Rs 98.39 lakh crore, respectively, showing growth of 7.2 per cent during 2014-15, and 6.6 per cent during 2013-14. GDP growth rate for 2013-14 has also revised downwards to 6.6 per cent from earlier estimate of 6.9 per cent.

The growth rate in secondary sector estimated at 5.4 per cent down from earlier projection of 6.3 per cent. However the growth rate for the primary (farm and allied activities) and tertiary (services) sectors have been revised upwards to 1.3 per cent and 10.3 per cent, from earlier estimates of 0.3 and 10.2 per cent respectively.

According to national accounts data, the per capita net national income at current prices is estimated as Rs 79,412 and Rs 86,879, respectively for the years 2013-14 and 2014-15. Similarly the per capita Private Final Consumption Expenditure at current prices, for the years 2013-14 and 2014-15 is estimated at Rs 52,022 and Rs 56,772, respectively.

The rate of Gross Capital Formation to GDP at constant (2011-12) prices has decreased marginally from 36.2 per cent in 2013-14 to 35.9 per cent in 2014-15.