India's Q1 GDP for the quarter ending June 30, 2015 came way below estimates at 7 per cent as against 7.5 per cent reported for the previous quarter ending March 31, 2015.
Quarterly GVA at basic prices for Trade, Hotels and Transport & Communication and Services related to broadcasting for Q1 2015-16 grew by 12.8 percent as compared to growth of 12.1 percent in Q1 2014-15.
Construction growth was placed at 6.9 per cent and saw a healthy growth.
Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs 9.02 lakh crore in Q1 of 2015-16 as against Rs 8.69 lakh crore in Q1 of 2014-15. At constant (2011-2012) prices, the GFCF is estimated at Rs 8.07 lakh crore in Q1 of 2015-16 as against Rs 7.70 lakh crore in Q1 of 2014- 15.
In terms of GDP, the rates of GFCF at current and constant (2011-2012) prices during Q1 of 2015-16 are estimated at 27.8 per cent and 29.8 per cent, respectively, as against the corresponding rates of 29.2 per cent and 30.4 per cent, respectively in Q1 of 2014-15.
April-Jul Fiscal Deficit was placed at at 69.3 per cent of FY16 target.