India to grow at 7.2 per cent in 2018-19: CSO
The Central Statistics Office has released the first advance estimates of National Income for 2018-19. The observations made by CSO are:
- Indian economy is expected to grow at 7.2 per cent in 2018-19, a tad higher from 6.7 per cent in the 2018-18.
- Real GVA (Gross Value Added) is expected to grow at 7 per cent in the current fiscal as against 6.5 per cent in 2017-18.
- The expansion in activities in agriculture, forestry and fishing is likely to increase to 3.8 per cent in the current fiscal from 3.4 per cent in the preceding year.
- Growth in the manufacturing sector is expected to increase to 8.3 per cent in 2018-19 up from 5.7 per cent in 2017-18.
- The growth in the mining and quarrying sector is estimated to decline from 2.9 per cent in 2017-18 to 0.8 per cent in the current fiscal.
- Trade, hotels, transport, communication and services related to broadcasting will also witness deceleration to 6.9 per cent in 2018-19 from 8 per cent in 2017-18.
- The growth rate of public administration, defence and other services will also dip to 8.9 per cent from 10 per cent last fiscal.
- Electricity, gas, water supply & other utility services growth is estimated at 9.4 per cent in 2018-19, up from 7.2 per cent in 2017-18.
- The construction sector is expected to grow at 8.9 per cent from 5.7 per cent previous fiscal.
- Financial, real estate & professional services growth will be a tad higher at 6.8 per cent this fiscal against 6.6 per cent in 2017-18.
CSO also estimates per capita net national income during 2018-19 to be at Rs 1,25,397, an increase of 11.1 per cent as compared to Rs 1,12,835 during 2017-18 with the growth rate of 8.6 per cent.
Categories: Business, Economy & Banking