The Indian economy grew at 15-quarter high of 8.2 per cent in the April-June quarter of current fiscal on a good show by manufacturing and farm sectors, according to the government data released on Friday.
The growth cemented India's position as the fastest growing major economy, clocking higher expansion rate than China's 6.7 in the same quarter.
The gross domestic product (GDP) at constant (2011-12) prices in the first quarter of 2018-19 is estimated at Rs 33.74 trillion, as against Rs 31.18 trillion in Q1 of 2017-18, showing a growth rate of 8.2 per cent, a Central Statistics Office statement said.
According to the statement, the quarterly GVA (Gross Value Added) at the basic price at constant (2011-2012) prices for Q1 of 2018-19 is estimated at Rs 31.63 trillion, as against Rs 29.29 trillion in Q1 of 2017-18, showing a growth rate of 8 per cent over the year-ago period.
The previous high quarterly GDP growth was recorded in July-September period in 2014-15 at 8.4 per cent.
As per the data, the quarterly GVA at basic prices for Q1 2018-19 from manufacturing' sector grew by 13.5 per cent as compared to a contraction of 1.8 per cent in Q1 2017-18.
The Quarterly GVA at basic prices for Q1 2018-19 from agriculture, forestry and fishing' sector grew by 5.3 per cent as compared to growth of 3 per cent in Q1 2017-18.
Key Highlights
1. The growth in GDP is the highest growth in two years; strongest since Q1FY16.
2. The economic activities which registered growth of over 7 per cent in Q1 of 2018-19 over Q1 of 2017-18 are ‘manufacturing, ‘electricity, gas, water supply & other utility services’ ‘construction’ and ‘public administration, defence and other services’.
3. The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘Trade, hotels, transport, communication and services related to broadcasting’ and financial, real estate and professional services is estimated to be 5.3 per cent, 0.1 per cent, 6.7 per cent, and 6.5 per cent respectively during this period.
4.
Quarterly GVA at basic prices for Q1 2018-19 from ‘agriculture, forestry and fishing’ sector grew by 5.3 per cent as compared to growth of 3.0 per cent in Q1 2017-18.
5. Quarterly GVA at basic prices for Q1 2018-19 from ‘manufacturing’ sector grew by 13.5 per cent as compared to growth of (-) 1.8 per cent in Q1 2017-18.
6. Quarterly GVA at basic prices for Q1 2018-19 from ‘Electricity, Gas, water supply and other utility services’ sector grew by 7.3 per cent as compared to growth of 7.1 per cent in Q1 2017-18.
7. Quarterly GVA at basic prices for Q1 2018-19 from ‘Construction’ sector grew by 8.7 per cent as compared to growth of 1.8 per cent in Q1 2017-18.
Core sector data
Eight core sectors grew by 6.6 per cent in July pushed by healthy output in coal, refinery products, cement and fertiliser.
The eight core sector - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had registered a growth of 2.9 per cent in July last year.
The output of coal, refinery products, fertiliser and cement grew by 9.7 per cent, 12.3 per cent, 1.3 per cent and 10.8 per cent respectively in July 2018.
However, growth rate in production of crude oil and natural gas recorded negative growth in the month of July.
On the other hand, steel sector expansion came down to 6 per cent, as against 9.4 per cent in July 2017.
During the April-July period of the current fiscal, these 8 sectors grew by 5.8 per cent as against 2.6 per cent in the year-ago period. In June, they grew by 7.6 per cent.
The growth cemented India's position as the fastest growing major economy, clocking higher expansion rate than China's 6.7 in the same quarter.
The gross domestic product (GDP) at constant (2011-12) prices in the first quarter of 2018-19 is estimated at Rs 33.74 trillion, as against Rs 31.18 trillion in Q1 of 2017-18, showing a growth rate of 8.2 per cent, a Central Statistics Office statement said.
According to the statement, the quarterly GVA (Gross Value Added) at the basic price at constant (2011-2012) prices for Q1 of 2018-19 is estimated at Rs 31.63 trillion, as against Rs 29.29 trillion in Q1 of 2017-18, showing a growth rate of 8 per cent over the year-ago period.
The previous high quarterly GDP growth was recorded in July-September period in 2014-15 at 8.4 per cent.
As per the data, the quarterly GVA at basic prices for Q1 2018-19 from manufacturing' sector grew by 13.5 per cent as compared to a contraction of 1.8 per cent in Q1 2017-18.
The Quarterly GVA at basic prices for Q1 2018-19 from agriculture, forestry and fishing' sector grew by 5.3 per cent as compared to growth of 3 per cent in Q1 2017-18.
Key Highlights
1. The growth in GDP is the highest growth in two years; strongest since Q1FY16.
2. The economic activities which registered growth of over 7 per cent in Q1 of 2018-19 over Q1 of 2017-18 are ‘manufacturing, ‘electricity, gas, water supply & other utility services’ ‘construction’ and ‘public administration, defence and other services’.
3. The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘Trade, hotels, transport, communication and services related to broadcasting’ and financial, real estate and professional services is estimated to be 5.3 per cent, 0.1 per cent, 6.7 per cent, and 6.5 per cent respectively during this period.
4.
Quarterly GVA at basic prices for Q1 2018-19 from ‘agriculture, forestry and fishing’ sector grew by 5.3 per cent as compared to growth of 3.0 per cent in Q1 2017-18.
5. Quarterly GVA at basic prices for Q1 2018-19 from ‘manufacturing’ sector grew by 13.5 per cent as compared to growth of (-) 1.8 per cent in Q1 2017-18.
6. Quarterly GVA at basic prices for Q1 2018-19 from ‘Electricity, Gas, water supply and other utility services’ sector grew by 7.3 per cent as compared to growth of 7.1 per cent in Q1 2017-18.
7. Quarterly GVA at basic prices for Q1 2018-19 from ‘Construction’ sector grew by 8.7 per cent as compared to growth of 1.8 per cent in Q1 2017-18.
Core sector data
Eight core sectors grew by 6.6 per cent in July pushed by healthy output in coal, refinery products, cement and fertiliser.
The eight core sector - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had registered a growth of 2.9 per cent in July last year.
The output of coal, refinery products, fertiliser and cement grew by 9.7 per cent, 12.3 per cent, 1.3 per cent and 10.8 per cent respectively in July 2018.
However, growth rate in production of crude oil and natural gas recorded negative growth in the month of July.
On the other hand, steel sector expansion came down to 6 per cent, as against 9.4 per cent in July 2017.
During the April-July period of the current fiscal, these 8 sectors grew by 5.8 per cent as against 2.6 per cent in the year-ago period. In June, they grew by 7.6 per cent.
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