Poshan

Home »  Website »  Business »  Govt Revises GDP Growth Rate For 2017-2018 From 6.7 % To 7.2 %

Govt Revises GDP Growth Rate For 2017-2018 From 6.7 % To 7.2 %

The CSO has also released the Second Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for 2016-17.

Govt Revises GDP Growth Rate For 2017-2018  From  6.7 % To 7.2 %
Representational Image
Govt Revises GDP Growth Rate For 2017-2018 From 6.7 % To 7.2 %
outlookindia.com
2019-01-31T18:49:01+0530

The economic growth rate of the country was revised by the government as upwards to 7.2 per cent for 2017-18 from the 6.7 per cent estimated earlier.

"Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 stand at Rs 131.80 lakh crore and Rs 122.98 lakh crore, respectively, showing growth of 7.2 per cent during 2017-18 and 8.2 per cent during 2016-17," the Central Statistics Office  (CSO) said.

Earlier, the CSO in its advance estimate had pegged the GDP growth rate for 2018-19 at 7.2 per cent.

"The First Revised Estimates for 2017-18 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31st May, 2018," said the CSO said.

The CSO has also released the Second Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for 2016-17.

During 2017-18, the growth rates of primary (comprising agriculture, forestry, fishing and mining and quarrying), secondary (comprising manufacturing, electricity, gas, water supply and other utility services, and construction) and tertiary (services) sectors have been estimated as 5 per cent, 6 per cent and 8.1 per cent as against a growth of 6.8 per cent, 7.5 per cent and 8.4 per cent, respectively, in the previous year.

PTI

Subscribe to Outlook’s Newsletter

Next Story : Unemployment Rate At 45-Year-High Of 6.1% In 2017-18: Report
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
Online Casino Betway Banner





Advertisement
Advertisement