Indian GDP Rises to 7.7 % in Q4 2018

Indian GDP Rises to 7.7 % in Q4 2018

Indian GDP Rises to 7.7 % in Q4 2018

The annual GDP growth for 2018-19 is projected at 7.4% by the participating economist; with a minimum and maximum range of 6.9% and 7.5% respectively.

The private corporate sector growth (which has a share of over 70 per cent in the manufacturing sector) as estimated from available data of listed companies with BSE and NSE was 9 per cent at current prices during 2017-18.

Economic Affairs Secretary Subhash Chandra said all sectors of the economy, including manufacturing, construction and agriculture, did well in the fourth quarter of the last fiscal.

"GDP growth has been increasing continuously every quarter".

Consumer-price growth is already picking up-reaching 4.6 percent in April-and for a central bank that aims to keep inflation around the 4 percent midpoint of its target band, an interest-rate hike can't be far away.

The fourth quarter GDP number is the highest since demonetisation in November 2016.

At the sectoral level, the growth rate of GVA at constant (2011-12) prices for agriculture & allied sectors, industry and services sectors for the year 2017-18 are estimated at 3.4 per cent, 5.5 per cent, and 7.9 per cent respectively. For the full year (2017-18), GDP expanded at 6.7 per cent, lower than the 7.1 per cent recorded in the previous year. In 2019-20, it has projected the growth rate to be higher at 7.5 per cent. "The banking sector remains in a fragile state, and such problems have the potential to derail the ongoing growth recovery".

Mining sector experiences a growth of 2.7 percent as against 1.4 percent in third quarter. "Overall, we expect GDP growth to remain strong at 7.8% y-o-y in Q2, before slowing to an average of 7.1% in H2 2018".

The 9.0% growth of capital goods and the expansion in the GoI's capital spending in January-February 2018 are likely to have contributed to the healthy expansion of gross fixed capital formation (GFCF) in the just-concluded quarter.

NEW DELHI, May 31 (Reuters) - The Indian economy grew 7.7 percent year-on-year in January-March, its quickest pace in almost two years driven by higher growth in manufacturing, the farm sector and construction.

In terms of GDP, the rates of GFCF at current and constant (2011-12) prices during 2017-18 are estimated at 28.5 per cent and 31.4 per cent, respectively, as against the corresponding rates of 28.5 per cent and 31.1 per cent, respectively, in 2016-17. "The GDP numbers for 2017-18 marginally overshoots the advance estimates of GDP released earlier this year".

Going forward, economists look bullish on the Indian economy's growth considering that robust auto sales growth and rising rural and urban consumption will aid better growth in the upcoming quarters.

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