GDP Growth at 7.2% for Q3 FY18, Beats Estimates

By Olga Robert
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    India's GDP growth beats all estimates at 7.2% for the October-December quarter 2017 as per data released by Central Statistics Office (CSO) today.

    GDP at constant (2011-12) prices in Q3 of 2017-18 is estimated at Rs 32.50 lakh crore, as against Rs 30.32 lakh crore in Q3 of 2016-17, showing a growth rate of 7.2 percent.

    India's gross value added (GVA) growth stood at 6.7% in the third quarter of 2017-18 compared with 6.9% in the same period last year.

    The Gross Domestic Product (GDP) was 7.1% in 2016-17 and 8% in the preceding year. It was 7.5% in 2014-15.

    Most of the economists had expected GDP will grow in the range of 6.5 to 6.9 percent.

    Indian economy was hit by two big policy changes of Goods and Services Tax (GST) and demonitization in the past 18 months.

    It was at a 3 year low in June 2017 at 5.7% and grew to 6.2% in the September 2017 ended quarter.

    Sector Wise Analysis

    Agriculture

    Agriculture

    The ‘agriculture, forestry and fishing' sector is likely to show a growth rate of 3.0 percent in its GVA during 2017-18, as against the previous year's growth rate of 6.3 percent.

    Mining and quarrying

    Mining and quarrying

    The growth in the GVA at basic prices for 2017-18 from ‘mining and quarrying' sector is estimated to be 3.0 percent as compared to growth of 13.0 percent in 2016-17.

    Manufacturing

    Manufacturing

    The growth in the GVA at basic prices for 2017-18 from ‘manufacturing' sector is estimated to be 5.1 percent as compared to growth of 7.9 percent in 2016-17.

    Electricity, gas, water supply and other utility services

    Electricity, gas, water supply and other utility services

    GVA at basic prices for 2017-18 from ‘Electricity, gas, water supply and other utility services' sector is estimated to grow by 7.3 percent as compared to growth of 9.2 percent in 2016-17.

    Construction

    Construction

    GVA at basic prices for 2017-18 from ‘Construction' sector is estimated to grow by 4.3 percent as compared to growth of 1.3 percent in 2016-17.

    Trade, hotels, transport, communication and services related to broadcasting

    Trade, hotels, transport, communication and services related to broadcasting

    GVA at basic prices for 2017-18 from this sector is estimated to grow by 8.3 percent as compared to growth of 7.2 percent in 2016-17. 

    Financial, real estate and professional services

    Financial, real estate and professional services

    GVA at basic prices for 2017-18 from this sector is estimated to grow by 7.2 percent as compared to growth of 6.0 percent in 2016-17.

    Public administration, defence and other services

    Public administration, defence and other services

    GVA at basic prices for 2017-18 from this sector is estimated to grow by 10.1 percent as compared to growth of 10.7 percent in 2016-17.

    Per Capita Income

    Per Capita Income

    The per capita income in real terms (at 2011-12 prices) during 2017-18 is likely to attain a level of Rs 86,689 as compared to Rs 82,229 for the year 2016-17. The growth rate in per capita income is estimated at 5.4 percent during 2017-18, as against 5.7 per cent in the previous year.

    Price indices used as deflators

    Price indices used as deflators

    The wholesale price index (WPI), in respect of the groups food articles, minerals, manufactured products and all commodities, has risen by 2.3 percent, 7.3 percent, 2.6 percent and 2.9 percent, respectively during April-December, 2017-18. The consumer price index has shown a rise of 3.3 percent during April-December, 2017-18.

    Read more about: gdp q3
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