GDP growth rate for 2017-18 revised upwards to 7.2% from 6.7% estimated earlier, says CSO data

New Delhi: The government Thursday revised the economic growth rate upwards to 7.2 percent for 2017-18 from the 6.7 percent estimated earlier."Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 stand at Rs 131.80 lakh crore and Rs 122.98 lakh crore, respectively, showing growth of 7.2 percent during 2017-18 and 8.2 percent during 2016-17," the CSO said.Earlier, the CSO in its advance estimate had pegged the GDP growth rate for 2018-19 at 7.2 percent.[caption id="attachment_4368147" align="alignleft" width="380"]

Representational image. Reuters.[/caption]"The First Revised Estimates for 2017-18 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of ProvisionalEstimates on 31st May, 2018," said the Central Statistics Office (CSO).The CSO has also released the Second Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for 2016-17.During 2017-18, the growth rates of primary (comprising agriculture, forestry, fishing and mining and quarrying), secondary (comprising manufacturing, electricity, gas, water supply and other utility services, and construction) and tertiary (services) sectors have been estimated as 5 percent, 6 percent and 8.1 percent as against a growth of 6.8 percent, 7.5 percent and 8.4 percent, respectively, in the previous year.  To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day.To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.