India's Q3 GDP At -- Per cent; Meets Estimates

The government today estimated that the GDP for FY 2015-16 would be 7.6 per cent, higher than most estimates.

"Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2015-16 is likely to attain a level of Rs 113.51 lakh crore, as against the First Revised Estimate of GDP for the year 2014-15 of Rs 105.52 lakh crore, released on 29th January 2016. The growth in GDP during 2015-16 is estimated at 7.6 per cent as compared to the growth rate of 7.2 per cent in 2014-15.

Real GVA, i.e, GVA at basic constant prices (2011-12) is anticipated to increase from Rs 97.27 lakh crore in 2014-15 to Rs 104.38 lakh crore in 2015-16. Anticipated growth of real GVA at basic prices in 2015-16 is 7.3 per cent against 7.1 per cent in 2014-15.

The sectors which are likely to register growth rate of over 7.0 per cent are 'financial, real estate and professional services', ‘trade, hotels, transport, communication and services related to broadcasting', and manufacturing'.

The growth in the ‘agriculture, forestry and fishing', ‘mining and quarrying', ‘electricity, gas, water supply and other utility services', ‘construction' and ‘public administration, defence and other services' is estimated to be 1.1 per cent, 6.9 per cent, 5.9 per cent, 3.7 per cent and 6.9 per cent respectively.

Story first published: Monday, February 8, 2016, 17:44 [IST]

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Govt Estimates FY 2015-16 GDP At 7.6%