LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

GDP grew at 5.7% in first quarter

In Q4FY17, India's GDP numbers missed estimates and dropped to 6.1%. While Real GDP at constant (2011-12) prices for FY17 is estimated at Rs 121.90 lakh crore showing a growth rate of 7.1% over the year 2015-16 of Rs 113.81 lakh crore, as per CSO.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
GDP grew at 5.7% in first quarter
Prime Minister Narendra Modi arrives at Amsterdam, Netherlands to begin his last leg of 3 nation tour on June 27, 2017. Photo: IANS
Written By: ZeeBiz WebTeam
Updated: Thu, Aug 31, 2017
05:31 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Positive events improve India's Q2 GDP projections, reveals SBI Ecowrap Report - Check  HIGHLIGHTS here Positive events improve India's Q2 GDP projections, reveals SBI Ecowrap Report - Check HIGHLIGHTS here
Budget 2019: Economic Survey sees economy at $5 tn, 8% growth rate; here's what FM Sitharaman can do to boost GDP Budget 2019: Economic Survey sees economy at $5 tn, 8% growth rate; here's what FM Sitharaman can do to boost GDP
India GDP 2019-20: Good news! Political stability, repo rate cut to push growth up to 7.5% in H2, says RBI India GDP 2019-20: Good news! Political stability, repo rate cut to push growth up to 7.5% in H2, says RBI
India's GDP growth rate comes in at 5.8% in Q4FY19 - Here's how various sectors performed India's GDP growth rate comes in at 5.8% in Q4FY19 - Here's how various sectors performed
Bull run! Forget 12k, 13k marks, Nifty 50 seen at breathtaking heights - 15k-level Bull run! Forget 12k, 13k marks, Nifty 50 seen at breathtaking heights - 15k-level

Ministry of Statistics & Programme Implementation on Wednesday released India's Gross Domestic Product (GDP) numbers for the quarter April - June 2017. 

GDP at constant (2011-12) prices in Q1 of 2017-18 is estimated at Rs 31.10 lakh crore, as against Rs 29.42 lakh crore in Q1 of 2016-17, showing a growth rate of 5.7%. "Quarterly GVA at basic price at constant (2011-2012) prices for Q1 of 2017-18 is estimated at Rs 29.04 lakh crore, as against Rs 27.51 lakh crore in Q1 of 2016-17, showing a growth rate of 5.6% over the corresponding quarter of previous year," government data show. 

India's GDP stood at 6.1% for January - March 2017 (Q4FY17) and 7.9% of April - June 2017 (Q1FY17).

The economic activities which registered growth of over 7% in Q1 of 2017-18 over Q1 of 2016-17 are ‘trade, hotels, transport & communication and services related to broadcasting’, ‘public administration, defence and other services’ and ‘electricity, gas, water supply & other utility services’. 

The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘manufacturing’,  ‘construction’  and  financial, insurance, real estate and professional services  is estimated to be 2.3%, (-) 0.7%, 1.2%, 2.0% and 6.4%, respectively during this period, Ministry of Statistics & Programme Implementation said. 

Private Final Consumption Expenditure

Private Final Consumption Expenditure (PFCE) at current prices is estimated at Rs 22.27 lakh crore in Q1 of 2017-18 as against `20.42 lakh crore in Q1 of 2016-17.  At constant (2011-12) prices, the PFCE is estimated at Rs 16.80 lakh crore in Q1 of 2017-18 as against Rs15.76 lakh crore in Q1 of 2016-17. In terms of GDP, the rates of PFCE at current and constant (2011-2012) prices during Q1 of 2017-18 are estimated at 57.3% and 54.0%, respectively, as against the corresponding rates of 57.4% and 53.6%, respectively in Q1 of 2016-17.

Government Final Consumption Expenditure

Government Final Consumption Expenditure (GFCE) at current prices is estimated at Rs 5.19 lakh crore in Q1 of 2017-18 as against Rs 4.34 lakh crore in Q1 of 2016-17. At constant (2011-2012) prices, the GFCE is estimated at Rs 3.91 lakh crore in Q1 of 2017-18 as against Rs 3.34 lakh crore in Q1 of 2016-17. In terms of GDP, the rates of GFCE at current and constant (2011-2012) prices during Q1 of 2017-18 are estimated at 13.4% and 12.6%, respectively, as against the corresponding rate of 12.2% and 11.3% respectively in Q1 of 2016-17.

Gross Fixed Capital Formation

Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs 10.69 lakh crore in Q1 of 2017-18 as against Rs 10.37 lakh crore in Q1 of 2016-17. At constant (2011-2012) prices, the GFCF is estimated at Rs 28 lakh crore in Q1 of 2017-18 as against Rs 9.13 lakh crore in Q1 of 2016-17. In terms of GDP, the rates of GFCF at current and constant (2011-2012) prices during Q1 of 2017-18 are estimated at 27.5% and 29.8%, respectively, as against the corresponding rates of 29.2% and 31.0 %, respectively in Q1 of 2016-17.

 

source: tradingeconomics.com

Economists at Care Ratings expected the  GDP growth for the first quarter of ongoing fiscal year i.e. FY18 at 6.5% at constant 2011-12 prices. This growth is contingent on realization of Gross Value Added (GVA) growth at 6.3%.

Many economists believed that India's economy growth will see impact of demonetisation followed by Goods and Services Tax which got implemented starting from July 01, 2017. 

Teresa John, Research Analysts at Nirmal Bang said, "We expect India’s gross value added or GVA growth to come in at about 6.2% for 1QFY18 while gross domestic product or GDP is likely to register 6.6% growth." He stated that the numbers will see serial shocks of demonetisation followed by the implementation of Goods and Services Tax or GST is weighing on the economy.

Normura in its report mentioned that the pick-up in growth which was visible in March-end had lost some momentum towards end of June quarter on the backdrop of destocking and uncertainty from GST. 

A Reuters poll pf economists, suggested that the GDP numbers is expected to have expanded 6.6%  in the April-June quarter from a year earlier. Forecasts ranged from 5.7 to 7.2%, as per the poll. 

Real GDP or GDP at constant (2011-12) prices for the year 2016-17 is estimated at Rs 121.90 lakh crore showing a growth rate of 7.1% over the year 2015-16 of Rs 113.81 lakh crore.

According to the revision, India's GDP in 2015-16 stood at 8% as against 7.9% and 7.5% in 2014-15 as against 7.2% earlier. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
India GDPIndia GDP dataIndia GDP data in Q1FY18India GDP growthGross Domestic ProductEconomyIndia GVAIndia GVA growthCentral Statistics OfficeMinistry of Statistics & Programme ImplementationIndian economyGDP oultlookGDP estimatesDemonetisationGST
RELATED NEWS
Positive events improve India's Q2 GDP projections, reveals SBI Ecowrap Report - Check  HIGHLIGHTS here Positive events improve India's Q2 GDP projections, reveals SBI Ecowrap Report - Check HIGHLIGHTS here
Budget 2019: Economic Survey sees economy at $5 tn, 8% growth rate; here's what FM Sitharaman can do to boost GDP Budget 2019: Economic Survey sees economy at $5 tn, 8% growth rate; here's what FM Sitharaman can do to boost GDP
India GDP 2019-20: Good news! Political stability, repo rate cut to push growth up to 7.5% in H2, says RBI India GDP 2019-20: Good news! Political stability, repo rate cut to push growth up to 7.5% in H2, says RBI
India's GDP growth rate comes in at 5.8% in Q4FY19 - Here's how various sectors performed India's GDP growth rate comes in at 5.8% in Q4FY19 - Here's how various sectors performed
Bull run! Forget 12k, 13k marks, Nifty 50 seen at breathtaking heights - 15k-level Bull run! Forget 12k, 13k marks, Nifty 50 seen at breathtaking heights - 15k-level

LATEST NEWS

MP Board Class 10, Class 12 admit card 2021 released; Know how to get it, correction window and other important details

CBSE exams 2021 cancellation demand: Board has big update for Class 10, 12 students

Mid Cap Picks with Anil Singhvi: Bombay Burmah, Fine Organic and Gujarat Alkalies are Jay Thakkar's top recommendations

India leads US and China, administers 100 million COVID-19 vaccinations doses in 85 days

Daily Covid-19 cases spike to new record, nears 1.5 lakh infection; Uddhav Thackeray calls all-party meet to review corona situation in Maharashtra

7th pay Commission: This is what Centre said about pending DA installments; staffers to get it by 'this' month

Gold price: Resistance, support for MCX Gold REVEALED, check crucial levels

FD fraud: SBI issues alert for customers, says avoid THESE things or else you will lose money

Gold Price outlook, correction, resistance and target—EXPLAINED! This is what Experts say about yellow metal in near to medium term

Stock Market Outlook: Nifty, Bank Nifty support range REVEALED; Anil Singhvi says global cues, corona cases and FIIs data will be crucial

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved