India Q1 2015-16 GDP At 7%; Way Below Estimates

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, August 31, 2015, 17:46 [IST]

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.

Manufacturing sector grew by 7.2 percent as compared to growth of 8.4 percent in Q1 2014-15. Quarterly GVA at basic prices for Q1 2015-16 from agriculture, forestry and fishing' sector grew by 1.9 per cent as compared to growth of 2.6 percent in Q1 2014-15.

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.

GoodReturns.in