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.

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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.

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  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
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