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

All you want to know about Republic Day celebrations 2021

India is celebrating the 72nd Republic Day on Tuesday. Attendance at the main celebrations in the capital is limited given the pandemic, yet Covid-19 has not dampened the spirit of the occasion. India’s military might, cultural diversity and social-economic progress will be on display at the majestic

How much time do you spend talking on phone?

How much time do Indians spend talking on phone? It is on average 761 minutes per month, according to a new report from the Telecom Regulatory Authority of India (TRAI). The telecom regulator released its report, titled ‘The Indian Telecom Services Performance Indicators: July-Septemb

“Developing public health infrastructure key to sustainable healthcare for all”

Renowned cardiologist Dr Ramakanta Panda has said that the pandemic has exposed the inadequacy of existing healthcare systems and it is wrong to draw comparisons with Korea, a country with the population equal to that of a single Indian state. While speaking to Kailashnath Adhikari, MD, Gove

SC-appointed panel on farm laws holds first meet

The committee of experts appointed by the supreme court to deliberate with the stakeholders on the new farm laws held its first meeting here Tuesday, with one of its members saying that all stakeholders, including individual farmers, will be heard. Hearing a petition on the farm laws enacted

India’s glitch-free vaccination gathers pace

The nationwide vaccination campaign launched Saturday, the largest such exercise in the world, has started setting new benchmarks, with vaccines administered to 2,24,301 beneficiaries in the first two days. “India has vaccinated the highest number of persons on Day1 under its COVID19 v

Maharashtra to spend Rs 2,500 crore to augment, develop power infrastructure

The Maharashtra government has announced a spending of Rs 2,500 crore annually to develop infrastructure of state-owned distribution company Mahavitaran (MSEDCL).   Out of the total amount, Rs 1,500 crore will be spent on energisation of conventional agriculture pumps and Rs 1,000 crore

Visionary Talk with Shehzad Poonawalla On the State of Current Affairs





Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter