Post-demonetisation slow down in GDP -Governance Now

Post-demonetisation slow down in GDP

The sectors which are likely to register growth rate of over 7.0 percent are defence, 'manufacturing' and ‘trade, hotels, transport, communication

GN Bureau | February 28, 2017

#forestry #agriculture #manufacturing #GDP #Demonetisation #fishing #construction

The growth in GDP during 2016-17 is estimated at 7.1 per cent as compared to the growth rate of 7.9 per cent in 2015-16, authorities said.

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation on Tuesday released the Second Advance estimates of national income at constant (2011-12) and current prices for the financial year 2016-17.

Demonetisation was announced on November 8, 2016.

Quarterly estimates of GDP for the third quarter October-December (Q3), 2016-17 both at constant (2011-12) and current prices along with the corresponding quarterly estimates of expenditure components of GDP were also released. Quarterly estimates of previous years along with the first and second quarter estimates of 2016-17 released earlier have undergone revision in accordance with the revision policy of National Accounts.

“Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2016-17 is likely to attain a level of Rs 121.65 lakh crore, as against the First Revised Estimate of GDP for the year 2015-16 of Rs 113.58 lakh crore, released on January 31, 2017. The growth in GDP during 2016-17 is estimated at 7.1 per cent as compared to the growth rate of 7.9 per cent in 2015-16.”

Real Gross Value Added, i.e, GVA at basic constant prices (2011-12) is anticipated to increase from Rs 104.70 lakh crore in 2015-16 to Rs 111.68 lakh crore in 2016-17. Anticipated growth of real GVA at basic prices in 2016-17 is 6.7 percent against 7.8 percent in 2015-16.

The sectors which are likely to register growth rate of over 7.0 percent are ‘public administration, defence and other services’, 'manufacturing' and ‘trade, hotels, transport, communication and services related to broadcasting’. The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘electricity, gas, water supply and other utility services’, ‘construction’ and 'financial, real estate and professional services' is estimated to be 4.4 percent, 1.3 percent, 6.6 per cent, 3.1 percent and 6.5 percent respectively.

Comments

Other News

WEF, MMRDA ink deal to transform MMR into global fin hub

The World Economic Forum (WEF) will provide funds to Maharashtra government for making Mumbai Metroplolitan Region (MMR) a global financial hub. An MoU between MMRDA (Mumbai Metropolitan Region Development Authority) and WEF was signed by Klaus Schwab, founder and executive Chairman, World

How to be prepared for the next pandemic

NITI Aayog on Wednesday released an Expert Group report, titled ‘Future Pandemic Preparedness and Emergency Response — A Framework for Action’. The expert group in the report has provided a blueprint for the country to prepare for any future public health emergency or pandemic and have a

The Shinde Saga: From humble beginnings to union home minister

Five Decades in Politics By Sushilkumar Shinde (as told to Rasheed Kidwai) HarperCollins India, 240 pages, Rs 599.00

How India can offer data protection to SMEs

Cyberattacks have become a daily phenomenon around the globe, especially in India. In the first half of 2024 alone, India has witnessed 593 cyber incidents, comprising of 388 data breaches, 107 data leaks, and 39 ransomware attacks. With an average of 3,201 cyberattacks per week in Q2 2024,

Sopan Joshi on writing “that mango book”, research and a “memorable” feast

Mangifera indica: A Biography of the Mango By Sopan Joshi Aleph Book Company, 432 pages, Rs 799 The mang

Shorter, more efficacious treatment for drug-resistant TB approved in India

The union ministry of health & family welfare has approved the introduction of the BPaLM regimen, a novel treatment for Multi-Drug-Resistant Tuberculosis (MDR-TB) under its National TB Elimination Programme (NTEP) as a highly effective and shorter treatment option. This regimen includes