GDP grows at 7.3 per cent in September quarter, up from 7.1 per cent

The Gross Domestic Product (GDP) or national income was 7.6 per cent in the second quarter of the last fiscal.

By: PTI | New Delhi | Published:November 30, 2016 6:42 pm
The hoary issue of new versus old system of the GDP measurement has again been disinterred. The Gross Domestic Product (GDP) or national income was 7.6 per cent in the second quarter of the last fiscal.

The Indian economy grew at 7.3 per cent in the September quarter of current fiscal, up from 7.1 per cent in the previous three months, mainly on improved performance of manufacturing, services and trade sectors. The Gross Domestic Product (GDP) or national income was 7.6 per cent in the second quarter of the last fiscal. According to the data released by the Central Statistics Office (CSO), the Gross Value Added (GVA), which is estimated at the basic price, showed a growth of 7.1 per cent in the second quarter of 2016-17, compared to 7.3 per in the year ago period.

Watch what else is making news

The GDP growth data is calculated under the new methodology at market price, while GVA is calculated primarily at factor cost. GDP is GVA plus taxes on products, minus subsidies on them. The sectors which registered growth of over 7 per cent in July-September quarter are ‘public administration, defence and other services’, ‘financial, insurance, real estate and professional services’, ‘manufacturing’ and ‘trade, hotels and transport and communication and services related to broadcasting’, the data said. Growth in agriculture; forestry and fishing; mining and quarrying and construction is estimated to be 1.8 per cent, (-)0.4 per cent, and 1.5 per cent respectively.

For all the latest India News, download Indian Express App now

  1. S
    Syed
    Nov 30, 2016 at 1:55 pm
    How much it would if calculate using old formula. We can compare it with GDP during UPA. As far as I know the GDP of calacuted using old formula should less than what is shown above
    Reply
    1. V
      Vivek
      Nov 30, 2016 at 2:49 pm
      Eager to know what will be GDP growth in next 2-3 Quarters - Demonetization effect. lt;br/gt;lt;br/gt;Entire world accepts thess figure and some rogues (see comments section) are claiming they are better than any of these international rating agencies. Their pathological hatred towards Modi is on clear display.
      Reply
      1. D
        Dash
        Nov 30, 2016 at 3:00 pm
        Some people do not understand that the methodology used in India is also used by World Bank,IMF,Fitch and other financial agencies. They think what they say is correct. The reality is that India is thr fastest growing major economy in the world.
        Reply
        1. C
          Charlie
          Nov 30, 2016 at 1:56 pm
          All this is fake data.lt;br/gt;The real GDP is arrived by deducting the Inflation rate from the Nominal GDP.lt;br/gt;The Nominal GDP in the past used to be 12%-15% lt;br/gt;W Inflation used to be 4% - 8%.lt;br/gt;...But now the Nominal GDP (Pure GDP) is 5.2% (actually its more like 4%)lt;br/gt;...And w inflation is Minus (-) 2.2% as feku has changed the commodities on which this figure is based.lt;br/gt;....and hence these rosy figures by Feku Gang.lt;br/gt;----India is heading into a crisis of unimaginable proportions.lt;br/gt;-----God help us all !!
          Reply
          1. C
            Charlie
            Nov 30, 2016 at 1:58 pm
            Real GDP (nominal gdp) is close to 4%-5% .lt;br/gt;Earlier this used to be 12% - 15%.lt;br/gt;Feku is fooling the nation.
            Reply
            1. A
              A. M.
              Nov 30, 2016 at 5:15 pm
              Feku govt's fake data.
              Reply
              1. A
                A. M.
                Nov 30, 2016 at 8:01 pm
                Just like your mom is feku's and kaitley's close friend now.
                Reply
                1. A
                  A. M.
                  Nov 30, 2016 at 8:02 pm
                  Just like your mom is feku's and kaitley's close friend. Just make sure that shah and his police doesn't snoop on her as well
                  Reply
                  1. V
                    Vasi krish
                    Nov 30, 2016 at 6:24 pm
                    Guys this is for July to September , after is nov joke it will be around 5%
                    Reply
                    1. V
                      Vasi krish
                      Nov 30, 2016 at 6:28 pm
                      Guys this is for July to September , after is nov joke it will be around 5% bbb
                      Reply
                      1. M
                        mast kalandar
                        Nov 30, 2016 at 2:40 pm
                        HIS MOM was Chidambaram's close friend for the 10 years of UPA it seems!
                        Reply
                        1. M
                          mast kalandar
                          Nov 30, 2016 at 2:40 pm
                          YOU MOM was Chidambaram's close friend for the 10 years of UPA it seems!
                          Reply
                          1. M
                            Mayur Panghaal
                            Nov 30, 2016 at 3:19 pm
                            A simple google search using the term Nominal gdp at 10 ear low will do the job...but you need a brain for it...and MOdi's toadies dont have that
                            Reply
                            1. M
                              Mahender Goriganti
                              Nov 30, 2016 at 10:32 pm
                              All these #s mean nothing to Am Admi. The only measure is simple if life is little better compared to year before for same amount of hard work and is able to buy more for the same amount of money earned, there is real growth. All these number jumble is for economic armchair pundits and journalist junkies to sell it to public.
                              Reply
                              1. D
                                David
                                Nov 30, 2016 at 9:29 pm
                                Joke: The stanis were asking the Chinese for bullet train. The Chinese laughed in their face. Source:stan railway minister. Lesson: No free lunch.
                                Reply
                                1. V
                                  Vinay Rao
                                  Nov 30, 2016 at 4:09 pm
                                  Is it so then you immediately complain to World bank president. Convince him your methodology, tell him India is heading into a crisis.
                                  Reply
                                  1. S
                                    shamim
                                    Nov 30, 2016 at 5:49 pm
                                    fake data
                                    Reply
                                    1. S
                                      subraman
                                      Nov 30, 2016 at 2:30 pm
                                      How did you do this calculation? Did Rahul or manmohan Singh gave you the data? Headless chicken!
                                      Reply
                                      1. J
                                        Joji
                                        Nov 30, 2016 at 4:28 pm
                                        Let us wait and watch the GDP in Nov Dec
                                        Reply
                                        1. Load More Comments