New Delhi, Jan 31 (PTI) The government Thursday revised the economic growth rate upwards to 7.2 per cent for 2017-18 from the 6.7 per cent estimated earlier.Also Read - Pakistan Announce Squad For ODI Series Against West Indies; Shadab Returns, Key Players Left Out
“Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 stand at Rs 131.80 lakh crore and Rs 122.98 lakh crore, respectively, showing growth of 7.2 per cent during 2017-18 and 8.2 per cent during 2016-17,” the CSO said. Also Read - IPL 2022 Playoffs: Ex-RCB Captain Predicts Yuzi Chahal-Ravi Ashwin Will Give Advantage to RR During Qualifier 1 vs GT
Earlier, the CSO in its advance estimate had pegged the GDP growth rate for 2018-19 at 7.2 per cent. Also Read - CBI Is Hiring, Last Date To Apply May 31; Details Inside
“The First Revised Estimates for 2017-18 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31st May, 2018,” said the Central Statistics Office (CSO).
The CSO has also released the Second Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for 2016-17.
During 2017-18, the growth rates of primary (comprising agriculture, forestry, fishing and mining and quarrying), secondary (comprising manufacturing, electricity, gas, water supply and other utility services, and construction) and tertiary (services) sectors have been estimated as 5 per cent, 6 per cent and 8.1 per cent as against a growth of 6.8 per cent, 7.5 per cent and 8.4 per cent, respectively, in the previous year.
This is published unedited from the PTI feed.