Big growth in GDP, crossing 8 percent in the first quarter of current financial year

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Big growth in GDP, crossing 8 percent
Big growth in GDP, crossing 8 percent

 

There has been a spurt in the economy of the country. In the first quarter of this financial year (2018-19), growth has recorded 8.2 percent. Earlier, in the last quarter of last financial year (2017-18), the growth rate was recorded at 7.7 percent. The Central Government received great relief from the figures released on Friday.

Estimates of Gross Domestic Product at Q1 (2018-19) of 2018-19 are estimated at Rs 33774 lakh crores, which shows an increase of 8.2 percent compared to Rs 31.18 lakh crores in Q1 2017-18. pic.twitter.com/qpasH0OA4Z

 

GDP at constant (2011-12) prices in Q1 of 2018-19 is estimated at `33.74 lakh crore, as against `31.18 lakh crore in Q1 of 2017-18, showing a growth rate of 8.2 percent. pic.twitter.com/qpasH0OA4Z

— ANI (@ANI) August 31, 2018

 

Decrease in core sector

The decline in core sector growth has been recorded. Core sector growth was 6.6 percent in July. Core industry growth on the month-to-month basis has come down from 7.6 percent to 6.6 percent. Explain that June’s core industries growth has improved from 6.7 percent to 7.6 percent.

On a month-on-month basis, the growth in coal production has decreased from 11.5 percent to 9.7 percent in July. Growth of crude oil in the month of July was 5.4 percent compared to 3.4 percent on a month-on-month basis.

According to the figures released by the government, GDP growth was a strong boost from the manufacturing sector. During April-June, the growth of manufacturing has increased to 13.5 percent, compared to 1.8 percent in the same period a year ago.

Construction growth has decreased from 11.5 percent to 8.7 percent in the April-June quarter on a quarterly basis. Electricity, mining, trade transport in the June quarter also declined. Electricity growth decreased from 7.7 percent in the April-June quarter on quarterly basis, 7.3 percent, mining growth declined from 2.7 percent to 0.1 percent and trade transport growth declined from 6.8 percent to 6.7 percent.


On the quarterly basis, the growth in the June quarter has increased from 5% to 6.5%. Public administration growth decreased from 13.3 percent to 9.9 percent in the April-June quarter on quarter-on-quarter basis. At the same time, industry growth was 7.35 percent against the estimate of 8.4 percent and service growth was 8.2 percent against the estimate of 8.2 percent.

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