Published 13:27 IST, September 3rd 2018
India's Q1 (April-June) 2018-19 GDP estimated to have grown at 8.2%
India's GDP is estimated to have grown at 8.2% in the April-June quarter of the current financial year, the Central Statistics Office of the Ministry of Statistics and Programme Implementation, revealed on Friday.
Advertisement
India's GDP (Gross Domestic Product), the total value of goods and services produced within a defined period, is estimated to have grown at 8.2% in the April-June quarter of the current financial year, the Central Statistics Office of the Ministry of Statistics and Programme Implementation, revealed on Friday.
The release reads:
Advertisement
GDP at constant (2011-12) prices in Q1 of 2018-19 is estimated at Rs. 33.74 lakh crore ($475.5 billion), as against Rs. 31.18 lakh crore ($439.4 billion) in Q1 of 2017-18, showing a growth rate of 8.2%.
GVA (Gross Value Added) at basic price at constant (2011-2012) prices for Q1 of 2018-19 is estimated at Rs. 31.63 lakh crore, as against Rs. 29.29 lakh crore in Q1 of 2017-18, showing a growth rate of 8.0% over the corresponding quarter of previous year
Advertisement
The growth rate of 8.2% entails a significant expansion in comparison to the 5.6% growth rate India registered in the same quarter a year ago.
In the immediately preceeding quarter, i.e. Jan-March Q4 2017-18, India registered a growth of 7.7%, with the previous three quarters registering 7.0% (Q3 2017-18), 6.3% (Q2 2017-18) and 5.6% (Q1 2017-18).
Advertisement
In its sector-wise breakdown of the GDP growth for the quarter in question, the release states:
The economic activities which registered growth of over 7% in Q1 of 2018-19 over Q1 of 2017-18 are ‘manufacturing, ‘electricity, gas, water supply & other utility services’ ‘construction’ and ‘public administration, defence and other services’.
Advertisement
Here is a readout of quarter-wise GDP estimates at the time that they were first announced (similar to how the growth rate mentioned above is an estimate) for the past few years:
[At constant (2004-05) prices]
Q1 2011-12 - 7.7 per cent
Q2 2011-12 - 6.9 per cent
Q3 2011-12 - 6.1 per cent
Q4 2011-12 - 5.3 per cent
Q1 2012-13 - 5.5 per cent
Q2 2012-13 - 5.3 per cent
Q3 2012-13 - 4.5 per cent
Q4 2012-13 - 4.8 per cent
Q1 2013-14 - 4.4 per cent
Q2 2013-14 - 4.8 per cent
Q3 2013-14 - 4.7 per cent
Q4 2013-14 - 4.6 per cent
Q1 2014-15 - 5.7 per cent
Q2 2014-15 - 5.3 per cent
[Onward: At constant (2011-12) prices]
Q3 2014-15 - 7.5 per cent
Q4 2014-15 - 7.5 per cent
Q1 2015-16 - 7.0 per cent
Q2 2015-16 - 7.4 per cent
Q3 2015-16 - 7.3 per cent
Q4 2015-16 - 7.4 per cent
Q1 2016-17 - 7.3 per cent
Q2 2016-17 - 7.3 per cent
Q3 2016-17 - 7.0 per cent
Q4 2016-17 - 6.1 per cent
Q1 2017-18 - 5.6 per cent
Q2 2017-18 - 6.3 per cent
Q3 2017-18 - 7.0 per cent
Q4 2017-18 - 7.7 per cent
Q1 2018-19 - 8.2 per cent
(Source: Central Statistics Office website, Ministry of Statistics and Programme Implementation)
Here's how political leaders have reacted:
Former Finance Minister and senior Congress leader P Chidambaram has emphasised a base effect for the high growth rate:
He has offered a prediction for coming quarters:
READ | Finance Minister Arun Jaitley Denies That Demonetisation Was Unsuccessful; States Larger Purpose
BJP party president Amit Shah, however, has put out a set of info-graphics on the Q1 economic performance and has cited the numbers as a 'reflection on the transformative changes being ushered in by PM Modi'
Get today’s India news and stay updated with latest news headlines. Follow the latest India news and never miss out on any updates from the world of Politics, Economy, Elections etc. Download the app or visit Republic World to watch Live TV & get all the breaking news from India.
18:12 IST, August 31st 2018