FY17 GDP growth retained at 7.1% and GVA growth revised sharply to 7.1%

Gross fixed capital formation (GFCF) growth was revised to 10.1 per cent in FY17, the highest in this series, from the previously anaemic 2.4 per cent

The Central Statistics Office (CSO) has sharply raised growth of gross value added (GVA) to 7.1 per cent in 2016-17, from earlier estimates of 6.6 per cent, due to revision in agriculture and mining expansion. However, it maintained its gross domestic product (GDP) growth estimate for FY17 at 7.1 per cent, but has upped it FY16 growth estimate to 8.2 per cent, from the earlier 7.9 per cent. 

Data, released a day ahead of the Budget for 2017-18, however, painted a rosy picture of gross fixed capital formation, representing investments. 

The Revised Estimates, released by the CSO, show the greatest