GDP growth slows to 6.1% in Q4FY2017

GDP growth at 7.1% for FY2017 in line with Second Advance Estimates, slows from 8% in FY2016

India's Gross Domestic Product (GDP) rose at moderated pace of 6.1% in Q4FY2017, which is the lowest pace of growth in last nine quarters. The GSP growth decelerated sharply from 7% growth recorded in the preceding last quarter and 8.7% surge posted in the corresponding quarter last year.

Another measure of economic activity - Gross Value Added (GVA) grew at slower pace in last 12 quarters at 5.6% in Q4FY2017 compared with 6.7% in Q3FY2017 and 8.7% in Q4FY2016.

Growth rates in various sectors for Q4FY2017 are as agriculture, forestry and fishing (5.2%), mining and quarrying (6.4%), manufacturing (5.3%), electricity, gas and water supply and other utility services (6.1%) construction (-3.7%), Trade, hotels, transport, communication and services related to broadcasting (6.5%), financial, real estate and professional services (2.2%), and Public administration, defence and Other Services (17%).

The GDP growth for FY2017 stood at 7.1%, in line with second advance estimate. However, the GDP growth has showed moderation from 8% growth in FY2016. The GVA at basic prices in 2016-17 is 6.6% against 7.9% in FY2016. The sectors which registered growth rate of over 7.0% at constant prices are public administration, defence and other services (11.3%), manufacturing (7.9%), trade, hotels, transport, communication and services related to broadcasting (7.8%),electricity, gas, water supply other utility services (7.2%) .The growth in the agriculture, forestry and fishing, mining and quarrying, construction and financial, real estate and professional services is estimated to be 4.9%, 1.8%, 1.7% and 5.7% respectively.

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