GDP slips down to 7.1 pc in Q2 of 2017-18
Economy

GDP slips down to 7.1 pc in Q2 of 2017-18

New Delhi, Nov 30: With the slowdown in economic activity, the Gross Domestic Product (GDP) slipped down to 7.1 per cent in the second quarter ended September, the Government announced on Friday.

The GDP was 8.2 per cent in the first quarter of this financial year.

According to the data released by the Statistic Ministry here, quarterly GVA for Q2 of 2018-19 was calculated at 6.9 per cent while it was 8.0 per cent in the first quarter of this year.

The growth rate was 6.3 per cent in the second quarter of 2017-18, 7.0 per cent in the third quarter and 7.7 per cent in the fourth quarter and the GDP growth rate in the first quarter of the current fiscal reached two years high at 8.2 per cent. Compared to the first quarter, there was decline in almost all areas in the second quarter.

The economic activities which registered growth of more than 7 per cent in second quarter of 2018-19 over the same period of 2017-18 are ‘Manufacturing, ‘Electricity, Gas, Water Supply & Other Utility Services’‘Construction’ and ‘Public Administration, Defence and other services’.

The growth in the ‘Agriculture, Forestry and Fishing’, ‘Mining and Quarrying’, ‘Trade, Hotels, Transport, Communication and Services related to Broadcasting’ and Financial, Real Estate and Professional Services is estimated to be 3.8 per cent, (-) 2.4 per cent, 6.8 per cent, and 6.3 per cent respectively during this period.

The quarterly GVA from ‘Agriculture, Forestry and Fishing’ sector grew by 3.8 per cent as compared to growth of 2.6 per cent in Q2 of 2017-18. The quarterly GVA from ‘Mining and Quarrying’ sector declined by 2.4 per cent in the second quarter of this year as compared to growth of 6.9 per cent in Q2 of 2017-18.

Quarterly GVA in Q2 of 2018-19 from ‘Manufacturing’ sector increased by 7.4 per cent as compared to growth of 7.1 per cent in the same period of the last year.

Quarterly GVA for Q2 of this year from ‘Electricity, Gas, Water Supply and Other Utility Services’ sector rose by 9.2 per cent as compared to 7.7 per cent in Q2 of the 2017-18.

Growth rates in Agriculture, Forestry and Fishing’ was recorded at 2.8 per cent, Mining and Quarrying 20.7 per cent, Manufacturing 12.2 per cent, Electricity, Gas, Water Supply and Other Utility Services 16.3 per cent, Construction 13.2 per cent, Trade, Hotels, Transport and Communication 12.3 per cent, Financial, Real Estate and Professional Services 12.5 per cent and Public Administration, Defence and Other Services 16.1 per cent. (UNI)