The Finance Ministry has sought to allay concerns over the Central Statistical Organisation's decadal low GDP growth estimate of 5 per cent for 2012-13.
Reacting to the CSO's advance estimate released today, the Finance Ministry pointed out that this projection was based on extrapolation of numbers till November 2012.
"Since then leading indicators have turned up, suggesting some hope that we will end the year on a better note," said a Finance Ministry statement.
Also, sectors such as trade and transport, which are related to industry, would tend to get revised upwards, if the growth outcomes are better.
The Finance Ministry has also pointed out that the RBI had in its outlook released on January 28 projected a growth rate of 5.5 per cent.
"The CSO’s growth estimate, no doubt, is below what we i.e. the Finance Ministry had expected it to be.
We are keeping a watch on the situation. We have taken and will continue to take appropriate measures to revive growth," the statement added.