The Indian economy grew at 6.28% in FY 2011-12 but slowed to an estimated growth rate of 5% in FY 2012-13, below the budgeted rate of 7.6%. Inflation increased over this period from 8.4% to 10.44% while industrial production and FDI declined. The mining and metals sector saw negative growth of 2.01% and 2.33% respectively over the two fiscal years. Salary increases across sectors averaged 12% in FY 2012-13, with manufacturing seeing the highest at 15% and financial services the lowest at 10%, as the economy faced challenges of inflation and slowing global growth.