Q3 GDP comes in at 7.2 percent

The sectors which are likely to register growth rate of over 7.0 percent are ‘public administration, defence and other services’,‘trade, hotels, transport, communication

GN Bureau | February 28, 2018


#gross domestic product   #India   #GDP  
Q3 GDP comes in at 7.2 percent
Q3 GDP comes in at 7.2 percent

The Q3 2017-18(Oct-Dec) GDP stood at 7.2 percent, up from Q2 2017-18(July-Sep) which was 6.5 percent, authorities said on Wednesday.

 
Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2017-18 is likely to attain a level of  Rs 130.04 lakh crore, as against the First Revised Estimate of GDP for the year 2016-17 of Rs 121.96 lakh crore, released on January 31, 2018. The growth in GDP during 2017-18 is estimated at 6.6 percent as compared to the growth rate of 7.1 percent in 2016-17.
 
Real Gross Value Added i.e, GVA at basic constant prices (2011-12) is anticipated to increase from Rs 112.48 lakh crore in 2016-17 to Rs 119.64 lakh crore in 2017-18. Anticipated growth of real GVA at basic prices in 2017-18 is 6.4 percent as against 7.1 percent in 2016-17.
 
The sectors which are likely to register growth rate of over 7.0 percent are ‘public administration, defence and other services’,‘trade, hotels, transport, communication and services related to broadcasting’, ‘electricity, gas, water supply and other utility services’ and 'financial, real estate and professional services’. The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘manufacturing’, and ‘construction’ is estimated to be 3.0 percent, 3.0 percent, 5.1 percent and 4.3 percent respectively.
 
The ‘agriculture, forestry and fishing’ sector is likely to show a growth rate of 3.0 percent in its GVA during 2017-18, as against the previous year’s growth rate of 6.3 percent. The GVA estimates of this sector have been compiled using the Second Advance Estimates of production of food grains for 2017-18. According to the information furnished by the Department of Agriculture and Cooperation (DAC), the production growth of food grains during the agriculture year 2017-18 was 0.9 percent as compared to 9.4 percent in the previous agriculture year. Crops including fruits and vegetables account for about 59.0 percent of GDP in ‘agriculture, forestry and fishing’ sector. Around 41.0 percent of GVA of this sector is based on the livestock products, forestry and fisheries, which is expected to register a combined growth of around 5.1 percent in 2017-18.
 
The monthly account of the union government upto January 2018 showed that the government has received Rs.11,63,386 crore (71.7% of corresponding RE 17-18 of total receipts) upto January 2018 comprising Rs. 9,71,323 crore tax revenue (net to centre), Rs.1,24,364 crore of non tax revenue and Rs.67,699 crore of non debt capital receipts. Non debt capital receipts consists of recovery of loans (Rs.12,156 crore) and disinvestment of PSUs (Rs.55,543 crore).
 
Rs.4,81,477 crore has been transferred to state governments as devolution of share of taxes by government of India in this period which is Rs.58,631 crore higher than the corresponding period of last year 2016-17.
 
Total expenditure incurred by the government of India is Rs.18,39,945 crore (83.0% of corresponding RE 17-18), out of which Rs.15,75,780 crore is on revenue account and Rs.2,64,165 crore is on capital account. Out of the total revenue expenditure, Rs.4,14,238 crore is on account of interest payments and Rs.2,18,581 crore is on account of major subsidies.

Comments

 

Other News

When Jaitley asked me to guess his age...

Sometime in 1999, I took Arun Jaitley out for meal for the column, “Lunch with Business Standard”. As is his wont, he chose his own place for lunch. It was at the Chambers at the Taj Mansingh hotel, an exclusive domain of the high and the mighty Delhi. As we sat down for the meal

Thus ends the Chidamba-Run!

The arrest of Palaniappan Chidambaram, former union minister of home & finance, by the CBI, albeit after his much dramatic disappearance and reappearance, has brought an end to his long run from the arms of law. As a finance minister, being at the other end of the law, the former ministe

What Imran’s rant against RSS tells us about Modi’s Kashmir policy

An unintended consequence of the inversion of Article 370 and the division of the state of Jammu and Kashmir into two union territories is the curious revival of Pakistan’s interest in Indian history and sociology. For the first time in decades, a Pakistan prime minister made the Rasht

On a Personal note with actor Neeraj Kabi

Neeraj Kabi, a critically acclaimed self-taught actor, theatre director, and acting teacher, has worked in Odiya, Hindi and international cinema, theatre, television and web series. In 2014 he was honoured with the best actor award at the 4th Sakhalin International Film Festival for his role in the fil

Talking to Trump, Modi hits out at Imran’s anti-India rhetoric

Prime minister Narendra Modi has told US president Donald Trump that Pakistan prime minister Imran Khan’s “incitement to anti-India violence” was not good for peace in south Asia. Modi and Trump had a telephonic conversation – their first since the Aug 5 move to chang

Paediatricians call for junking unhealthy food

As children are consuming more and more fast foods and sweetened beverages are becoming, leading to obesity and related non-communicable diseases (NCDs), the Indian Academy of Pediatrics (IAP) has come out with guidelines on such substances. The dietary guidelines under its nutrition chapter



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter