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GDP grows by 6.3% in Q2: CSO

By TIOL News Service

NEW DELHI, NOV 30, 2017: AS per the latest data the GDP at constant (2011-12) prices in Q2 of 2017-18 is estimated at Rs 31.66 lakh crore, as against Rs 29.79 lakh crore in Q2 of 2016-17, showing a growth rate of 6.3 percent. Quarterly GVA at Basic Price at constant (2011-12) prices for Q2 of 2017-18 is estimated at Rs 29.18 lakh crore, as against Rs 27.51 lakh crore in Q2 of 2016-17, showing a growth rate of 6.1 percent over the corresponding quarter of previous year.
 
The economic activities which registered growth of over 6.0 percent in Q2 of  2017-18 over Q2 of 2016-17 are ‘manufacturing’, ‘electricity, gas, water supply & other utility services and ‘trade, hotels, transport & communication and services related to broadcasting’. The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘construction’ 'financial, insurance, real estate and professional services' and ‘Public administration, defence & other services’ is estimated to be 1.7 percent, 5.5 percent, 2.6 per cent, 5.7 percent  and 6.0 percent respectively, during this period.
 
Quarterly GVA at basic prices for Q2 of 2017-18 from ‘manufacturing’ sector grew by 7.0 percent as compared to growth of 7.7 percent in Q2 of 2016-17. The private corporate sector growth (which has a share of over 70 percent in the manufacturing sector) as estimated from available data of listed companies with BSE/NSE is 11.4 percent at current prices during Q2 of 2017-18. The growth in quasi - corporate and unorganized segment (which includes individual proprietorships and partnerships and khadi & village Industries has a share of around 20 percent in the manufacturing sector) has been estimated using IIP of manufacturing.  IIP manufacturing registered growth rate of 2.2 percent during Q2 of 2017-18 as compared to growth of 5.5 percent in Q2 of 2016-17.
 
Quarterly GVA at basic prices for Q2 of 2017-18 from ‘Construction’ sector grew by 2.6 percent as compared to growth of 4.3 percent in Q2 of 2016-17. Key indicators of construction sector, namely, production of cement and consumption of finished steel registered growth rates of (-) 0.4 percent and 4.1 percent respectively during Q2 of 2017-18 as compared to 3.4 percent and 6.5 percent respectively during Q2 of 2016-17.
 
Gross Fixed Capital Formation

Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs 10.61 lakh crore in Q2 of 2017-18 as against Rs 9.98 lakh crore in Q2 of 2016-17. At constant (2011-2012) prices, the GFCF is estimated at Rs 9.15 lakh crore in Q2 of 2017-18 as against Rs 8.74 lakh crore in Q2 of 2016-17. In terms of GDP, the rates of GFCF at current and constant (2011-2012) prices during Q2 of 2017-18 are estimated at 26.4 percent and 28.9 percent, respectively, as against the corresponding rates of 27.1 percent and 29.4 percent respectively in Q2 of 2016-17. Growth rates of GFCF at current and constant prices are estimated  at  6.3 percent and  4.7 percent during Q2 of 2017-18 as compared to 2.9 percent and 3.0 percent during Q2 of 2016-17.


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