India's GDP Growth Slows to 7.1% in Second Quarter
Image Courtesy: Bizfluent
New Delhi: The pace of India's GDP (gross domestic product) growth slowed during the second quarter of 2018-19 to 7.1% from 8.2% in the first quarter, official data showed here on Friday.
According to the Central Statistics Office (CSO), the GDP at 2011-12 prices in the second quarter (Q2) of 2018-19 fell to 7.1 % from 8.2 % in Q1, 7.7% in Q4 of 2017-18 and 6.3% in the corresponding period of the previous fiscal.
"GDP at constant (2011-12) prices in Q2 of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore in Q2 of 2017-18," said the Q2 estimates released by the CSO.
"Quarterly GVA (Basic Price) at constant (2011-2012) prices for Q2 of 2018-19 is estimated at Rs 31.40 lakh crore, as against Rs 29.38 lakh crore in Q2 of 2017-18, showing a growth rate of 6.9 per cent over the corresponding quarter of previous year."
The GVA includes taxes but excludes subsidies.
According to PIB, growth in ‘Agriculture, Forestry and Fishing’ stood at 3%, ‘Mining and Quarrying’ at -2%, ‘Trade, Hotels, Transport, Communication and Services related to Broadcasting’ at 6.8% and Financial, Real Estate and Professional Services at 6.3 %.
Economic activities that registered growth of over 7% in Q2 of 2018-19 over Q2 of 2017-18 are ‘Manufacturing, ‘Electricity, Gas, Water Supply & Other Utility Services’‘Construction’ and ‘Public Administration, Defence and Other Services’.
Get the latest reports & analysis with people's perspective on Protests, movements & deep analytical videos, discussions of the current affairs in your Telegram app. Subscribe to NewsClick's Telegram channel & get Real-Time updates on stories, as they get published on our website.
