The sectors which registered growth rate of over 7.0 percent are public administration, defence and other services, financial, real estate and professional services and manufacturing
GN Bureau | January 6, 2017
The growth in GDP during 2016-17 is estimated at 7.1 percent as compared to the growth rate of 7.6 percent in 2015-16, according to First Advance estimates of national income at constant (2011-12) and current prices, for the financial year 2016-17.
The Central Statistics Office (CSO), ministry of statistics and programme implementation, said that 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 121.55 lakh crore, as against the Provisional Estimate of GDP for the year 2015-16 of Rs 113.50 lakh crore, released on May 31, 2016. The growth in GDP during 2016-17 is estimated at 7.1 per cent as compared to the growth rate of 7.6 per cent in 2015-16.
The sectors which registered growth rate of over 7.0 percent are, 'public administration, defence and other services’, 'financial, real estate and professional services' and ‘manufacturing’.
The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘electricity, gas, water supply and other utility services’, ‘construction’ and ‘Trade, hotels, transport, communication and services related to broadcasting’ is estimated to be 4.1 per cent, (-)1.8 percent, 6.5 percent, 2.9 percent and 6.0 percent respectively, said a press release.
The ‘agriculture, forestry and fishing’ sector is likely to show a growth of 4.1 percent in its Gross Value Added (GVA) during 2016-17, as against the previous year’s growth rate of 1.2 percent.'
According to the information furnished by the department of agriculture and cooperation (DAC), the production growth of food grains during the Kharif season of agriculture year 2016-17 was 8.9 percent as compared to decline of 3.2 percent during the same period in 2015-16.
The GVA at basic prices for 2016-17 from ‘manufacturing’ sector is estimated to grow by 7.4 percent as compared to growth of 9.3 percent in 2015-16. The private corporate sector has a share of around 72 percent in the manufacturing sector. The private corporate sector growth in the manufacturing sector was estimated using latest available information on major listed companies during first half of 2016-17.
The quasi corporate and unorganised segment (which include individual proprietorship and partnerships and khadi and village Industries has a share of around 23 percent in the manufacturing sector) has been estimated using IIP of manufacturing.
READ: India procures 20% of GDP publicly: World Bank
State run enterprise oil and natural gas corporation limited (ONGC) has decided to invest Rs 7,327 crore to develop five projects to produce oil and gas. The decision was taken in its 290th board meeting held on February 23. The projects include development of R-Series fields, incl
The civic election results could well have long term implications in Maharashtra’s politics, with the Bharatiya Janata Party (BJP) doing dramatically well and the Shiv Sena failing to get a simple majority. The Shiv Sena won 84 seats, while the BJP bagged 82 seats. Th
Hamidur Rahman, 27, a research scholar from the department of industrial engineering and operations research (IEOR), Indian Institute of Technology (IIT) Bombay, conducts a lecture every week for undergraduates and graduates in his department. “It’s not always mandatory,” he clarifies, bu
Do you believe Mayawati who says she won`t build any more statues if she comes to power?
State-run aerospace and defence company Bharat Electronics (BEL), a Navratna enterprise, on the first day of its stake sale by the government aimed to raise Rs 1,650 crore received an overwhelming response. Besides, quota of non-retail investors was subscribed by over 2.34 times. The govern
Noted historian Ramachandra Guha has listed reasons on why historical biographies never took off in a big way in India. Delivering the annual lecture at Sahitya Akademi’s Festival of Letters in New Delhi on Thursday, Guha said that historical biography is that part of history which is more