At 7.1 Percent, GDP Growth the Lowest in Last Six Quarters
The previous low was 6.6 percent GDP growth in the October-December quarter of the 2014-15 fiscal.
Indian economy grew at the slowest pace in last six quarters at 7.1 percent in the April-June period of current fiscal mainly on subdued performance in mining, construction and farm sectors.
The Gross Domestic Product (GDP) had recorded 7.5 percent growth in the April-June quarter of last fiscal and 7.9 percent in January-March quarter. The previous low was 6.6 percent GDP growth in the October-December quarter of the 2014-15 fiscal.
According to the data released by the Central Statistics Office (CSO), the Gross Value Added (GVA), which is estimated at the base price, showed a growth of 7.3 percent in the first quarter of 2016-17.
The GDP growth data is calculated under the new methodology at market price, while GVA is calculated primarily at factor cost. GDP is GVA plus taxes on products minus subsidies on them.
The economic activities which registered growth of over 7 percent in the April-June quarter, over year-ago period, are
- Manufacturing; electricity
- Gas
- Water supply and other utility services
- Trade
- Hotels
- Transport and communication and services related to broadcasting
- Financial
- Insurance
- Real estate
- Professional services and public administration
- Defence among others
Growth in agriculture; forestry and fishing; mining and quarrying and construction is estimated to be 1.8 percent, (-) 0.4 percent, and 1.5 percent respectively.
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)