The Centre on Thursday reported Gross Domestic Product (GDP) growth of 7.7 percent in the fourth quarter of FY 2017-18 (at 2011-12 prices).
As per data released by the Central Statistics Office (CSO), GDP growth in the fourth quarter was 7.7 percent, as against 5.6 percent, 6.3 percent and 7 percent respectively, in the first three quarters, backed by rapid growth in agriculture (4.5 percent), manufacturing (9.1 percent) and construction sectors (11.5 percent).
As per the provisional estimates of national income, the growth rate of GDP at constant (2011-12) prices for the financial year 2017-18 was estimated at 6.7 percent, while, at the sectoral level, the growth rate of GVA at constant (2011-12) prices for agriculture and allied sectors, industry and services sectors for the year 2017-18 were estimated at 3.4 percent, 5.5 percent, and 7.9 percent respectively.
The 'agriculture, forestry and fishing' sector showed a growth rate of 3.4 percent as against the previous year's growth rate of 6.3 percent, while the growth in the 'manufacturing' sector was estimated at 5.7 percent as against the previous year's growth rate of 7.9 percent.
The private corporate sector growth (which has a share of over 70 percent in the manufacturing sector) as estimated from available data of listed companies with BSE and NSE was 9 percent at current prices during 2017-18.
The sector 'financial, real estate and professional services' grew by 6.6 percent as against the previous year's growth rate of 6 percent, a major component of this industry being real estate and professional services. The key indicators of banking, namely, aggregate bank deposits and bank credits showed a growth of 6.7 percent and 10.3 percent, respectively, as on March 31 this year.
Meanwhile, the Gross National Income (GNI) at 2011-12 prices was estimated at Rs.128.64 lakh crore during 2017-18, as against the previous year's estimate of Rs.120.52 lakh crore, thus estimated to have risen by 6.7 percent during 2017-18, in comparison to the growth rate of 7.1 percent in 2016-17.
On the other hand, the GNI at current prices was estimated at Rs.165.87 lakh crore during 2017-18, as compared to Rs.150.77 lakh crore during 2016-17, showing a rise of 10 percent, the CSO noted.
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