GDP of India 2016-17 First Quarter

GDP of India FY 2016-17 First Quarter: India’s economic growth slowed down to 7.1% in the first quarter (April-June) of the fiscal year 2016-17 from 7.9% in the preceding March quarter as agriculture, mining and construction sectors saw lower growth while front-loading of government expenditure increased services sector growth. Data released by the Central Statistics Office (CSO) showed agriculture grew 1.8% against 2.3% in the March quarter, while mining growth contracted 0.4% against 8.6% growth in March quarter. 

GDP of India FY 2016-17 First Quarter Highlights:

• The growth in GDP during Q1, 2016-17 at 2011-12 prices is estimated at 7.1 percent  as compared to the growth rate of 7.5 percent in Q1, 2015-16.
• The growth in GVA at basic prices during Q1, 2016-17, at 2011-12 prices, is estimated at 7.3 percent as compared to the growth rate of 7.2 per cent in Q1, 2015-16.
• The ‘agriculture, forestry and fishing’ sector has shown a growth of 1.8 percent in its GVA during Q1, 2016-17, as against the growth rate of 2.6 percent in the corresponding period of last year. Q1estimates of agriculture sector pertains to Rabi production during agriculture year 2015-16.
• Growth in GVA in mining and quarrying was (-)0.4 percent during Q1, 2016-17 as against the growth rate of 8.5 percent in the corresponding period of last year.
• The manufacturing sector registered 9.1 percent growth during Q1 of 2016-17 as against the growth rate of 7.3 percent in the corresponding period of last year.
• The construction industry is estimated to have grown by 1.5 percent in Q1, 2016-17 as against 5.6 percent in the corresponding period of last year.
• The GVA growth in services sector during Q1, 2016-17 is estimated at 9.6 percent as against 8.8 percent in the corresponding period of last year.
• The GVA growth in trade, hotels, transport, communication and services related to broadcasting sector during Q1, 2016-17 is estimated at 8.1 percent as against 10.0 percent in the corresponding period of last year.
• Public administration, defence and other services is estimated to grow 12.3 percent  as against 5.9 percent in the corresponding period of last year.
• Growth in Private final consumption expenditure at current prices is estimated at 11.7 percent in Q1, 2016-17.
• Gross Fixed Capital Formation declined by 1.1 percent at current prices in Q1, 2016-17 as compared to an increase by 6.8 percent in Q1, 2015-16.