New Delhi: The Indian economy grew at five quarter high of 7.2 percent in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services.
The economy is expected to grow at 6.6 percent in the current fiscal ending March 31, as per the second advanced estimates of the Central Statistics Office (CSO), compared to 7.1 percent in 2016-17. The earlier estimate was 6.5 percent.
The growth for the second quarter (July-September) has been revised upwards to 6.5 percent, from 6.3 percent estimated earlier by the CSO.
The previous high was recorded at 7.5 percent in the July-September quarter of 2016-17.
The CSO said that the real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in 2017-18 is likely to be Rs 130.04 lakh crore, as against the first revised estimate for 2016-17 of Rs 121.96 lakh crore, released on January 31.
The growth in GDP during 2017-18 is estimated at 6.6 percent as compared to the growth rate of 7.1 percent in 2016-17, it added.
The gross valued added (GVA) for manufacturing in the quarter under review grew at 8.9 percent higher than 6.9 percent in the previous quarter.
Similarly, the farm sector GVA grew at 4.1 percent compared to 2.7 percent in the previous quarter. The construction sector recorded a growth of 6.8 percent, higher than 2.8 percent in previous quarter.
The services segment including financial services grew at rate of 6.7 percent up from 6.4 percent in previous quarter.
Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.
Updated Date: Feb 28, 2018 19:05:48 IST