GDP Growth Slows To 7.1%, Manufacturing And Farm Output Rises At Softer Pace

India's gross domestic product (GDP) rose 7.1% in July-September, down from 8.2% in the previous quarter though it still marked a comforting uptick compared to the previous year's 6.3% reading in the same quarter. The manufacturing sector expanded 7.4% following 13.5% surge in the previous quarter while the agriculture sector grew 3.8% from 5.3% in the previous quarter. Trade, Hotel, Transport, Communication &Services related to Broadcasting rose 6.80%, almost matching the growth in previous quarter. Financial, Real Estate & Professional Services expanded 6.30%, easing slightly from a 6.52% in previous quarter.

GDP at Constant (2011-12) Prices in Q2 of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72lakh crore in Q2 of 2017-18, showing a growth rate of 7.1%. Quarterly GVA (Basic Price) at Constant (2011-2012) Prices for Q2 of 2018-19 is estimated at Rs 31.40 lakh crore, as against Rs 29.38lakh crore in Q2 of 2017-18, showing a growth rate of 6.9% over the corresponding quarter of previous year.

 

The Wholesale Price Index (WPI), in respect of the groups - Minerals, Manufactured products, Electricity and All Commodities, has registered a growth of 8.2%, 4.4%, 6.4% and 5.0percent respectively whereas Food Articles declined by 2.1% during Q2 of 2018-19over Q2 of 2017-18. The Consumer Price Index (CPI) has shown a rise of 3.9% duringQ2 of 2018-19 as compared to growth of 3% during Q2 of 2017-18.

Private Final Consumption Expenditure (PFCE) at Current Prices is estimated at Rs 26.31 lakh crore in Q2 of 2018-19 as against Rs 23.58 lakh crore in Q2 of 2017-18. At Constant (2011-12) Prices, the PFCE is estimated at Rs 18.52 lakh crore in Q2 of 2018-19 as against Rs17.30 lakh crore in Q2 of 2017-18. In terms of GDP, the rates of PFCE at Current and Constant (2011-2012) Prices during Q2 of 2018-19 are estimated at 57.8% and 54.5%, respectively, as against the corresponding rates of 58% and 54.5% respectively in Q2 of 2017-18.

Government Final Consumption Expenditure (GFCE) at Current Prices is estimated at Rs 5.99lakh crore in Q2 of 2018-19 as against Rs 5.10 lakh crore in Q2 of 2017-18.At Constant (2011-2012) Prices, the GFCE is estimated at Rs 4.22 lakhcrore in Q2 of 2018-19 as against Rs 3.74 lakh crore in Q2 of 2017-18. In terms of GDP, the rates of GFCE at Current and Constant (2011-2012) Prices during Q2 of 2018-19 are estimated at 13.1% and 12.4%, respectively, as against the corresponding rate of 12.5% and11.8% respectively in Q2 of 2017-18.

Gross Fixed Capital Formation (GFCF) at Current Prices is estimated at Rs 13.28 lakh crore in Q2 of 2018-19 as against Rs 11.37 lakh crore in Q2 of 2017-18. At Constant (2011-2012) Prices, the GFCF is estimated at Rs 10.99 lakh crore in Q2 of 2018-19 as against Rs 9.77 lakh crore in Q2 of 2017-18. In terms of GDP, the rates of GFCF at Current and Constant (2011-2012) Prices during Q2 of 2018-19 are estimated at 29.2% and 32.3%, respectively, as against the corresponding rates of 27.9% and 30.8%, respectively in Q2 of 2017-18.

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