New Delhi: India’s GDP growth during 2016-17 is estimated at 7.1 per cent compared to the growth rate of 7.6 per cent in 2015-16, reported the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, in its First Advance estimates of national income, 2016-17, published on Friday.
The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country’s economy. Usually, GDP is expressed as a comparison to the previous quarter or year.
According to the CSO, Real GDP at constant (2011-12) prices in the year 2016-17 is likely to attain a level of Rs 121.55 lakh crore, as against the Provisional Estimate of GDP for the year 2015-16 of Rs 113.50 lakh crore, released on May 31, 2016.
According to CSO, the sectors which registered growth rate of over 7.0 percent are, ‘public administration, defence and other services’, ‘financial, real estate and professional services’ and ‘manufacturing’.
It also said that growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘electricity, gas, water supply and other utility services’, ‘construction’ and ‘Trade, hotels, transport, communication and services related to broadcasting’ is estimated to be 4.1 per cent, (-)1.8 per cent, 6.5 percent, 2.9 per cent and 6.0 percent, respectively.
The per capita income in real terms (at 2011-12 prices) during 2016-17 is likely to attain a level of Rs 81,805 as compared to Rs 77,435 for the year 2015-16. The growth rate in per capita income is estimated at 5.6 per cent during 2016-17, as against 6.2 per cent in the previous year.
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