The Central Statistical Organisation (CSO) has projected the FY 2018 GDP at 6.5 per cent, pegging the gross value added at 6.1 per cent.
The services growth is estimated to see an uptick at 8.3 per cent vs 7.7 seen last year. The advanced estimates cannot always be considered as very reliable, given that data has been volatile following the GST implementation.
The advance estimates released by the Central Statistical Organisation are used by the government to prepare the Union Budget for the upcoming financial year. The estimates are prepared using actual sectoral data available for about seven months of the year, along with other indicators such as financial results of the private corporate firms.