water production is likely to decline to 4.9 per cent in 2012-13, from 6.5 per cent in 2011-12.
During the current fiscal, the trade, hotel, transport and communication sectors are projected to grow by 5.2 per cent, as against 7 per cent last fiscal.
Community social and personal services growth however would be slightly better at 6.8 per cent, compared to 6 per cent in previous fiscal.
Overall, the 5 per cent growth in the advanced estimates is lower than what experts have been forecasting.
Yesterday, the International Monetary Fund (IMF) had said that the Indian economy would grow by 5.4 per cent in 2012-13, but should pick up to six per cent in next fiscal.
The Indian economy had expanded by 8.4 per cent in both 2010-11 and 2009-10, while growth in 2008-09 was 6.7 per cent.
The advance GDP estimates are released by the CSO before the end of a financial year to enable the government to formulate various estimates for inclusion in the Budget.
The latest estimate is the worst of all growth projections issued by the government and the central bank.
SHUBHADA RAO, CHIEF ECONOMIST, YES BANK, MUMBAI:
"The imputed growth for second half FY13 is at 4.7 percent. In our opinion, it is likely to be revised upward.
The main reasons for this considerable slowdown is a sharp correction in services at 6.6 per cent, led by trade and finance. The base effect in Q4 is positive, despite which, the numbers are projected lower which implies sharp sequential worsening of economic activity.
We have been anticipating marginal improvement in Q4 on the back of a small pick up in investments."
UPASNA BHARDWAJ, ECONOMIST, ING VYSYA BANK, MUMBAI
"While the slowdown in overall GDP estimates have been widely expected, the slowdown in services, particularly the trade, hotels, transport, communication category has been sharper than anticipated.
Moreover, the sharp slowdown clearly points towards continued slack in consumption demand, which is expected to keep the core inflation under check going forward".
PHANI SEKHAR, FUND MANAGER, ANGEL BROKING, MUMBAI
"It might have small impact but would not impact much as this fiscal year is almost over. People are focusing on next fiscal