Talking about challenges, Subramanian said investment was Also Read - Inside Yuvraj Singh-Hazel Keech’s Rs 64 Crore Sprawling Apartment in Mumbai- See PICS
PRI COM ECO GEN NAT
LD GDP 2 LAST
Talking about challenges, Subramanian said investment was
down substantially in the second quarter and that is something that needs to be watched.
Referring to the impact of demonetisation of 500 and 1000 rupee notes by the government earlier this month, CII Director General Chandrajit Banerjee said that it would be a “temporary setback” to growth in the coming quarter.
As per CSO, GDP at constant (2011-12) prices in the second quarter of 2016-17 is estimated at Rs 29.63 lakh crore, as against Rs 27.62 lakh crore in the year-ago period.
The quarterly GVA at basic price at constant (2011-12) prices for July-September is estimated at Rs 27.33 lakh crore, as against Rs 25.52 lakh crore year-on-year.
Government Final Consumption Expenditure (GFCE) at current prices is estimated at Rs 5.15 lakh crore for the second quarter as against Rs 4.27 lakh crore year ago.
At constant (2011-2012) prices, the GFCE is estimated at Rs 3.84 lakh crore as against Rs 3.33 lakh crore.
In terms of GDP, the rates of GFCE at current and constant prices during the second quarter are estimated at 14.1 per cent and 13 per cent respectively, as against the corresponding rate of 13.1 per cent and 12.1 per cent in the same period of 2015-16.
Chief Statistician Anant also informed that the ‘advance estimates’ for national accounts data for the current fiscal will be released on January 7, a month in advance.
The data release date is being advanced as government would be presenting Budget a month ahead of the usual practice of unveiling it on last working day of February.
The data on eight core infrastructure sector recorded a growth rate of 6.6 per cent in October on the back of impressive performance by steel and refinery products.
However, growth rate of power generation, fertiliser production and cement output fell considerably on year-on-year basis. Coal production continued to fall for the third straight month.
The core infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — showed 3.8 per cent in October last year.
Core sector contributes 38 per cent to the total industrial production. PTI NKD CS
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