The government has estimated a GDP (gross domestic product) growth at 7.2 percent for the financial year 2018-19 as against 6.7 percent in the previous year. The projection was a part of the Ministry of Statistics and Programme Implementation's report titled "First Advance Estimates of National Income, 2018-19" released today.
"Real GDP or Gross Domestic Product (GDP) at Constant Prices (2011-12) in the year 2018-19 is likely to attain a level of Rs 139.52 lakh crore, as against the Provisional Estimate of GDP for the year 2017-18 of Rs 130.11 lakh crore, released on 31st May 2018. The growth in GDP during 2018-19 is estimated at 7.2 percent as compared to the growth rate of 6.7 percent in 2017-18" the report said.
The ministry has further estimated the Gross Value Added (GVA) (at basic prices) to increase from Rs 119.76 lakh crore in 2017-18 to Rs 128.09 lakh crore in 2018-19 which is an anticipated growth 7.0 percent as against 6.5 percent in 2017-18.
The sector-wise estimates are based on indicators like Index of Industrial Production (IIP) of the first 7 months of the financial year, financial performance of listed companies in the Private Corporate sector up to quarter ending September 2018, 1st Advance Estimates of Crop production, accounts of Central and the State governments, information on indicators like deposits and credits, earnings of Railways, Civil Aviation, major seaports, etc., for the first 8 months of the financial year.