Indian Economy Grew At 6.1% In FY

India's real GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stands at Rs 139.81 lakh crore and Rs 131.75 lakh crore, respectively, showing growth of 6.1% during 2018-19 and 7% during 2017-18, the National Statistical Office said in revised national account data released on Friday. The earlier estimates had put the FY19 growth at 6.8%

The growth in real GVA (gross value added) during 2018-19 has been lower than that in 2017-18 mainly due to relatively lower growth in 'Agriculture, Forestry & Fishing', 'Mining and Quarrying', 'Manufacturing', 'Electricity, Gas, Water Supply & Other Utility Services', 'Financial Services, 'Public Administration and Defense' and 'Other Services'.

During 2018-19, at constant prices, the growth rates of primary (comprising agriculture, forestry, fishing and mining & quarrying), secondary (comprising manufacturing, electricity, gas, water supply & other utility services, and construction) and tertiary (services) sectors have been estimated at 1%, 6% and 7.7%, as against 5.8%, 6.5% and 6.9%, respectively, in the previous year.

The Nominal Net National Income (NNI) at current prices for 2018-19 stands at Rs 167.89 lakh crore as against Rs 151.50 lakh crore in 2017-18, showing growth of 10.8% during 2018-19 as against 11.2% in the previous year. The per capita income, that is per capita net national income at current prices, is estimated as Rs 1,15,293 and Rs 1,26,521 respectively for the years 2017-18 and 2018-19.

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