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What caused GDP to grow at 7.9% in FY16

Revised Estimate of GDP for 2015-16 show that economy grew 7.9% in 2015-16, rather than 7.6 per cent

Ishan Bakshi  |  New Delhi 

Revised Estimates (RE) of gross domestic product (GDP) for 2015-16, released by the Central Statistics Office (CSO), show that the economy grew 7.9 per cent in 2015-16, rather than the earlier estimate of 7.6 per cent.   Gross value added (GVA), which excludes product taxes and subsidies, grew by an even bigger magnitude. GVA in 2015-16 is now estimated to have grown by 7.8 per cent, up from the earlier estimate of 7.2 per cent. What explains this sharp rise? According to economists, these upward revisions in growth are largely a consequence of two factors. First, RE ...

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First Published: Fri, February 17 2017. 03:04 IST
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