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First advance estimate of FY20 pegs GDP growth at 5pc
Economy

First advance estimate of FY20 pegs GDP growth at 5pc

Agency News

New Delhi, Jan 7 : The first advance estimates of the GDP growth for fiscal 2019- 20 are being pegged at 5 per cent while the gross value added (GVA) estimate at 4.9 per cent, according to government data on Tuesday.

'Real GDP or GDP at Constant Prices in the year 2019-20 is likely to attain a level of Rs 147.79 lakh crore, as against the Provisional Estimate of GDP for the year 2018-19 of Rs 40.78 lakh crore, released on May 31, 2019,' the Ministry of Statistics and Programme Implementation said.

The growth in real GDP during 2019-20 is estimated at 5.0 per cent as compared to the growth rate of 6.8 per cent in 2018-19. Real GVA at Basic Prices is estimated to increase from Rs129.07 lakh crore in 2018-19 to Rs 135.40 lakh crore in 2019-20.

Estimated growth of real GVA in 2019-20 is 4.9 per cent as against 6.6 per cent in 2018-19. The first advance estimates will take into account the figures available for the first nine months of the current fiscal. The economy grew at a six-year low of 5 per cent and 4.5 per cent, respectively, in the quarters ending June and September. According to the estimates, the agri sector is set to grow at 2.8 percent and manufacturing at 2 per cent. (UNI)