Pressure mounts on the fiscal as GDP estimates slip
“The numbers need to be taken with a pinch of salt but they do highlight the weaknesses in the economy — slowing private consumption and investments,” Joshi said, adding that the rise in inventories points to higher capacity utilisation rather than new investments. Capital investment is expected to slow down to an annual 2.48 per cent in 2012-13 from 4.4 per cent in the previous year.
Meanwhile, the country’s per capita income, a gauge for measuring living standard, is estimated to have gone up 11.7 per cent to Rs 5,729 per month in 2012-13 at current prices, compared with Rs 5,130 in the previous fiscal. But the estimated rate of growth in per capita income for the current fiscal, however, is lower than the previous fiscal when it grew by 13.7 per cent.
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