The Gross Domestic Product (GDP) growth for Quarter (Q) 3 is at 7.2 percent, up from Q2’s 6.5 percent, according to the Ministry of Statistics and Programme Implementation.
The GDP at constant (2011-12) prices in Q3 of 2017-18 is estimated at Rs 32.50 lakh crore, as against Rs 30.32 lakh crore in Q3 of 2016-17, showing a growth rate of 7.2 percent.
Moreover, the GDP growth rates for Q1 and Q2 of 2017-18 at constant prices were 5.7 percent and 6.5 percent respectively.
The real GDP at constant (2011-12) prices in the year 2017-18 is likely to attain a level of Rs 130.04 lakh crore, as against the first revised estimate of GDP for the year 2016-17 of Rs 121.96 lakh crore, released on January 31, 2018.
Real Gross Value Added (GVA), i.e, GVA at basic constant prices (2011-12) is anticipated to increase from Rs 112.48 lakh crore in 2016-17 to Rs 119.64 lakh crore in 2017-18.
Anticipated growth of real GVA at basic prices in 2017-18 is 6.4 percent as against 7.1 percent in 2016-17.
The sectors which are likely to register growth rate of over seven percent are public administration, defence and other services, trade, hotels, transport, communication and services related to broadcasting, electricity, gas, water supply and other utility services and financial, real estate and professional services.
The growth in the agriculture, forestry and fishing, mining and quarrying, manufacturing, and construction is estimated to be 3 percent, 3 percent, 5.1 percent and 4.3 percent respectively.
The nominal Net National Income (NNI), also known as national income (at current prices) is likely to be Rs 148.40 lakh crore during 2017-18, as against Rs 134.93 lakh crore for the year 2016-17.
In terms of growth rates, the net national income registered a growth rate of 10 percent in 2017-18 as against the previous year’s growth rate of 11 percent