GDP figures to be announced at 5 pm

In an unusual move, the Central Statistical Organisation (CSO) will release the third quarter GDP data in the evening hours against the general practice of doing so at around noon.

"In view of the Budget Speech of the Finance Minister in Lok Sabha, press release on GDP estimates for the third quarter of 2012-13 will be released at 5.00 PM on February 28," an official statement said.

According to sources, the GDP growth rate for third quarter is likely to be below 5 per cent.

In its advanced estimates which was released earlier this month, the CSO has estimated the country's economic growth at 5 per cent during 2012-13 compared to 6.2 per cent last year. 

As the growth rate in the first half of the fiscal was 5.3 per cent, it is likely that the growth would slip to below
5 per cent in the third and the fourth quarter.     

Finance Minister P Chidambaram and Planning Commission Deputy Chairman Montek Singh Ahluwalia had earlier questioned the advanced estimates of the CSO arguing that it had ignored the rising trend while projecting the growth figures.