New Delhi: The Indian economy grew at 15-quarter high of 8.2 per cent in the April-June quarter of current fiscal on good show by manufacturing and farm sectors, according to the government data released Friday.
The growth cemented India’s position as the fastest growing major economy, clocking higher expansion rate than China’s 6.7 in the same quarter.
The gross domestic product (GDP) at constant (2011-12) prices in the first quarter of 2018-19 is estimated at Rs 33.74 lakh crore, as against Rs 31.18 lakh crore in Q1 of 2017-18, showing a growth rate of 8.2 per cent, a Central Statistics Office statement said.
According to statement, the quarterly GVA (Gross Value Added) at basic price at constant (2011-2012) prices for Q1 of 2018-19 is estimated at Rs 31.63 lakh crore, as against Rs 29.29 lakh crore in Q1 of 2017-18, showing a growth rate of 8 per cent over the year-ago period.
The previous high quarterly GDP growth was recorded in July-September period in 2014-15 at 8.4 per cent.
As per the data, the quarterly GVA at basic prices for Q1 2018-19 from ‘manufacturing’ sector grew by 13.5 per cent as compared to contraction of 1.8 per cent in Q1 2017-18.
The Quarterly GVA at basic prices for Q1 2018-19 from ‘agriculture, forestry and fishing’ sector grew by 5.3 per cent as compared to growth of 3 per cent in Q1 2017-18.
Eight core sectors grow by 6.6% in July
New Delhi: Eight core sectors grew by 6.6 per cent in July, pushed by healthy output in coal, refinery products, cement and fertiliser. The eight core sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — had registered a growth of 2.9 per cent last July. The output of coal, refinery products, fertiliser and cement grew by 9.7 per cent, 12.3 per cent, 1.3 per cent and 10.8 per cent respectively in July 2018. However, growth rate in production of crude oil and natural gas recorded negative growth in July. On the other hand, steel sector expansion came down to 6 per cent, as against 9.4 per cent in July 2017. During the April-July period of the current fiscal, these 8 sectors grew by 5.8 per cent as against 2.6 per cent in the year-ago period. In June, they grew by 7.6 per cent.