India's GDP estimated to grow at 7.2 per cent in 2018-19: Officials
New Delhi, Jan 7 (IBNS): India's Gross Dometic Product will grow at a rate of 7.2 per cent in 2018-2019 session, official data released on Monday said.
The growth percentage stood at 6.7 during the previous fiscal.
" Real GDP or Gross Domestic Product (GDP) at Constant Prices (2011-12) in the year 2018-19is likely to attain a level of ₹139.52lakh crore, as against the Provisional Estimate of GDP for the year 2017-18 of ₹130.11 lakh crore, released on 31st May 2018," read a government statement.
"The growth in GDP during 2018-19 is estimated at 7.2percent as compared to the growth rate of 6.7per cent in 2017-18.," it said.
Real GVA, i.e, GVA at Basic Constant Prices (2011-12) is anticipated to increase from ₹119.76lakh crore in 2017-18 to ₹128.09lakh crore in 2018-19. Anticipated growth of real GVA at Basic Prices in 2018-19 is 7.0percentas against 6.5percent in 2017-18.
The sectors which registered growth rate of over 7.0 percent are, ‘Electricity, Gas, Water Supply and Other Utility Services’, ‘Construction’, ‘Manufacturing’, 'Public Administration, Defence and Other Services’. The growth in the ‘Trade, Hotels, Transport, Communication and Services related to Broadcasting’, 'Financial, Real Estate and Professional Services', ‘Agriculture, Forestry and Fishing’ and ‘Mining and Quarrying’, is estimated to be 6.9 per cent, 6.8 per cent, 3.8percent and 0.8percent respectively.
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