India's Q3 GDP growth pegged lower at 6.6%
28 Feb 2019
The Indian economy grew at a relatively slower pace of 6.6 per cent in the third quarter of FY19, against the growth rate of 7.1 per cent in the second quarter and the 8.2 per cent growth recorded in the first quarter.
The growth in GDP during 2018-19 is estimated at 7.0 per cent compared to the growth rate of 7.2 per cent in 2017-18.
“Real GDP or gross domestic product (GDP) at constant (2011-12) prices in the year 2018-19 is likely to attain a level of Rs141.00 lakh crore, against the first revised estimate of GDP of Rs131.80 lakh crore for the year 2017-18, released on 31 January 2019,” the Central Statistics Office stated in its second advance estimate of national income.
Per capita income in real terms (at 2011-12 prices) during 2018-19 is likely to attain a level of Rs92,718 compared to Rs87,623 for the year 2017-18. The growth rate in per capita income is estimated at 5.8 per cent during 2018-19, against 5.7 per cent in the previous year.
Gross value added (GVA) in real terms at basic constant (2011-12) prices is anticipated to increase from Rs121.04 lakh crore in 2017-18 to Rs129.26 lakh crore in 2018-19. Anticipated growth of real GVA at basic prices in 2018-19 is 6.8 per cent against 6.9 per cent in 2017-18.
GDP growth in fiscal third quarter (October-December 2018-19) was helped by above 7 per cent growt in sectors like ‘construction’, ‘public administration, `defence and other services’, ‘manufacturing’, ‘electricity, gas, water supply and other utility services’ and 'financial, real estate and professional services’.
Growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’ and ‘trade, hotels, transport, communication and services related to broadcasting’ is estimated to be 2.7 per cent, 1.2 per cent and 6.8 per cent, respectively.
GVA at basic (2018-19) prices from ‘agriculture, forestry and fishing’ sector is estimated to grow 2.7 per cent compared to a growth of 5.0 per cent in 2017-18.
GVA at basic prices for 2018-19 from the ‘mining and quarrying’ sector is estimated to be 1.2 per cent compared to a growth of 5.1 per cent in 2017-18.
Growth in the GVA at basic 2018-19 prices from the ‘manufacturing’ sector is estimated to be 8.1 percent against a growth of 5.9 per cent in 2017-18.
GVA at basic 2018-19 prices from ‘electricity, gas, water supply and other utility services’ sector is estimated to grow by 8.0 per cent compared to a growth of 8.6 per cent in 2017-18.
GVA at basic 2018-19 prices from the ‘construction’ sector is estimated to grow by 8.9 per cent compared to a growth of 5.6 per cent in 2017-18.
GVA at basic 2018-19 prices from the sector comprising trade, hotels, transport, communication and services related to broadcasting is estimated to grow by 6.8 per cent compared to a growth of 7.8 per cent in 2017-18. GVA
GVA at basic 2018-19 prices from the financial, real estate and professional services sector is estimated to grow by 7.3 per cent compared to growth of 6.2 per cent in 2017-18
GVA at basic 2018-19 prices from the sector comprising public administration, defence and other services is estimated to grow 8.5 per cent compared to a growth of 11.9 per cent in 2017-18.