As per the provisional estimates of Gross Domestic Product (GDP), published by Central statistics Office (CSO), the rate of growth in the GDP at factor cost at constant (2004-05) prices was 4.7% in 2013-14.

As per the provisional estimates of GDP, the contribution of agriculture and allied sectors (agriculture, forestry and fishing), industry sector and services section in the GDP at constant (2004-05) prices during 2013-14 is 13.9%, 26.1% and 59.9% respectively.

The growth rate of the country is expected to increase during 2014-15, compared to 2013-14. According to the Economic Survey 2013-14, the growth in the Indian economy can be expected to recover gradually to 5.4% to 5.9% in 2014-15. Factors like the revival of industrial growth, improved external economic situation characterized by a stable current account, generally benign outlook on oil prices, improved fiscal situation, modest global growth revival etc., can be expected to contribute to the gradual recovery in GDP growth during 2014-15.

This information was given by the Union Minister of Finance, Shri Arun Jaitley in written reply to a question in Lok Sabha today.

Economic growth projection signals gradual recovery next year driven by industrial revival and improved external conditions. Projected change in Gross Domestic Product (GDP) records a provisional growth rate of 4.7% for 2013-14 at constant prices, with sectoral shares of agriculture and allied activities at 13.9%, industry at 26.1%, and services at 59.9%. The outlook indicates a gradual recovery in GDP growth in 2014-15, attributed to industrial revival, improved external economic conditions including a benign oil price outlook, and an improved fiscal situation.