Slowdown in GDP growth, estimated at 7.1 percent

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


#GDP   #Growth   #Economy   #Real Estate   #Gross Domestic Product  


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


 

Comments

 

Other News

BHEL commissions supercritical thermal power plant in UP

With the commissioning of the third unit of the Prayagraj Super Thermal Power Project (PSTPP), Bharat Heavy Electricals Limited (BHEL) has successfully executed the 1,980 MW coal-based supercritical thermal power project in Uttar Pradesh.   The first two units of the project

A corporation to be set up for Digital India

The ministry of electronics and information technology (MEITY) will set up a new body, Digital India Corporation (DIC), to execute prime minister’s ambitious Digital India programme. The corporation will subsume some of the existing agencies within the ministry including the National e-Gove

India, Japan to build Asia-Africa corridor to checkmate OBOR

While India and China are pitted against each other in South Asia and the Southeast Asian region, and the former’s refusal to participate in Beijing held summit on One Belt One Road (OBOR) initiative was a low point in their bilateral ties, New Delhi is now preparing an initiative that will r

Pragati Maidan to be turned into exhibition-cum-convention centre

The existing Pragati Maidan complex is set to get a new face with its redevelopment into a world class state-of-the-art integrated exhibition-cum-convention centre (IECC).   CMD, India Trade Promotion Organisation (ITPO), L C Goyal and CMD, NBCC (India) Limited, Anoop Kumar M

GAIL clocks 57% rise in profit after tax in 2016-17 FY

GAIL (India) Limited has registered 57 percent rise in profit after tax (PAT) for the 2016-17 fiscal with the PAT increasing to Rs 3,503 crore from Rs 2,226 crore in the last fiscal.   The rise in profit was boosted mainly by a turnaround in the company’s petrochemical

The case of former coal secy and the anti-corruption law

  A senior bureaucrat, apparently much respected among the administrative circles, faces two years in jail. His crime: a decision that may have come from the political leadership.   HC Gupta, a former coal secretary, is among the three bureaucrats convicted b



Video

प्रभुनाथ सिंह को हत्याकांड में उम्रकैद की सजा

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter