India’s Central Statistical Organisation has announced that the country’s economy has grown by +6.7% in the fiscal year through March 2009.

The government agency stated: ‘The base year is changed periodically to take into account the structural changes that take place in the economy and to depict a true picture of the economy.’

The economy had previously grown +9.2% in the year to March 2008, after an earlier estimate of +9% as the statistics agency changed the base year it uses to calculate the data to 2004-2005 from 1999-2000.