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

Women’s panel seeks CJI intervention over rape-murder convict’s penalty

The Maharashtra State Commission for Women has urged the chief justice of India to take suo moto action in the matter of the Bombay high court converting to life imprisonment the death sentence of the two persons convicted for the brutal rape and murder of a Pune BPO executive in 2008. Chall

BSE StAR MF achieves 61% share of equity net inflow for November

BSE StAR MF, India`s largest mutual funds distributor platform, is working on ways to transform itself into a unique end-to-end value-based services platform. It has achieved 61% share of equity net inflows (Rs 802.96 crore out of Rs 1311.65 crore) for the month November 2019.   “T

Thackeray keeps home with Shiv Sena, NCP gets finance, Cong revenue

Two weeks after the Maha Vikas Aghadi (MVA) came to power in Maharashtra on November 28 following a month-long political tug of war, chief minister Uddhav Thackerey has announced cabinet portfolios, keeping the home department for his Shiv Sena party, while giving the allies NCP and the Congress finance an

Parliament passes Citizenship amendment bill

The Citizenship (Amendment) Bill 2019 has been cleared by parliament, as the Upper House on Wednesday passed the legislation that seeks to grant Indian citizenship to non-Muslims from three neighbouring countries. “A landmark day for India and our nation’s ethos of compassion an

Lok Sabha passes the Citizenship (Amendment) Bill

After a day-long debate which often turned acrimonious, the Lok Sabha has passed the Citizenship (Amendment) Bill 2019, seeking to provide citizenship to non-Muslims from three neighbouring countries who have migrated to India.   Prime minister Narendra Modi said he was “delighted&

Citizenship bill in Lok Sabha, triggers debate

Home minister Amit Shah on Monday introduced in the Lok Sabha the Citizenship Amendment Bill, triggering a long-ranging debate on the ideas of India, with the opposition parties claiming it was regressive. The bill seeks to grant citizenship to non-Muslim citizens of the neighbouring Pakista



Archives

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter