Q2 GDP growth improves to 7.3 percent

01 Dec 2016 Evaluate

The Indian economy maintaining its growth momentum remained the world's fastest growing major economy in the July-September quarter. Data released by the Central Statistics Office (CSO) showed the economy grew an annual 7.3 percent in the July-September quarter, marginally faster than previous quarter's expansion of 7.1 percent, while it grew 7.6 percent in the July-September 2015-16. The rise was on the back of healthy growth in agriculture, which grew an annual 3.3 percent during Q2 compared to 1.8 percent expansion in the previous quarter. Manufacturing sector growth slowed to 7.1% in July-September compared to 9.1% expansion in April-June quarter.

As per CSO data, the GDP at constant (2011-12) prices in Q2 of 2016-17 is estimated at Rs 29.63 lakh crore, as against Rs 27.62 lakh crore in Q2 of 2015-16, showing a growth rate of 7.3 percent. Quarterly GVA at Basic Price at constant (2011-12) prices for Q2 of 2016-17 is estimated at Rs 27.33 lakh crore, as against Rs 25.52 lakh crore in Q2 of 2015-16, showing a growth rate of 7.1 per cent over the corresponding quarter of previous year.

Quarterly GVA at basic prices for Q2 of 2016-17 from ‘agriculture, forestry and fishing’ sector grew by 3.3 percent as compared to growth of 2.0 percent in Q2 2015-16. Quarterly GVA at basic prices for Q2 of 2016-17 from ‘mining and quarrying’ sector declined by (-) 1.5 percent as compared to growth of 5.0 percent in Q2 of 2015-16. Also, the Quarterly GVA at basic prices for Q2 of 2016-17 from ‘manufacturing’ sector grew by 7.1 percent as compared to growth of 9.2 percent in Q2 of 2015-16. Quarterly GVA at basic prices for Q2 of 2016-17 from ‘Electricity, Gas, water supply and other utility services’ sector grew by 3.5 percent as compared to growth of 7.5 percent in Q2 of 2015-16. While, Quarterly GVA at basic prices for Q2 of 2016-17 from ‘Construction’ sector grew by 3.5 percent as compared to growth of 0.8 percent in Q2 of 2015-16.

GDP at current prices in Q2 of 2016-17 is estimated at Rs 36.43 lakh crore, as against Rs 32.49 lakh crore in Q2 of 2015-16, showing a growth rate of 12.1 percent. GVA at basic price at current prices in Q2 of 2016-17, is estimated at Rs 33.42 lakh crore, as against Rs 30.02 lakh crore in Q2 of 2015-16, showing an increase of 11.3 percent.

Private Final Consumption Expenditure (PFCE) at current prices is estimated at Rs 21.78 lakh crore in Q2 of 2016-17 as against Rs 19.37 lakh crore in Q2 of 2015-16. At constant (2011-12) prices, the PFCE is estimated at Rs 16.26 lakh crore in Q2 of 2016-17 as against Rs 15.11 lakh crore in Q2 of 2015-16. Government Final Consumption Expenditure (GFCE) at current prices is estimated at Rs 5.15 lakh crore in Q2 of 2016-17 as against Rs 4.27 lakh crore in Q2 of 2015-16. At constant (2011-2012) prices, the GFCE is estimated at Rs 3.84 lakh crore in Q2 of 2016-17 as against Rs 3.33 lakh crore in Q2 of 2015-16. Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs 9.86 lakh crore in Q2 of 2016-17 as against Rs 10.19 lakh crore in Q2 of 2015-16. At constant (2011-2012) prices, the GFCF is estimated at Rs 8.58 lakh crore in Q2 of 2016-17 as against Rs 9.09 lakh crore in Q2 of 2015-16.

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