GDP of 7.1% Likely in this Financial Year

The Central Statistics Office revised the Gross Domestic Product (GDP) growth rate for 2015-16 to 8.2 per cent from the earlier estimates of 8 percent and kept the 2016-17 growth unchanged at 7.1 per cent.

“Real GDP or GDP at constant (2011-12) prices for the years 2016-17 and 2015-16 stands at Rs. 121.96 lakh crore and Rs. 113.86 lakh crore, respectively, showing growth of 7.1 per cent during 2016-17 and 8.2 per cent during 2015-16,” said the CSO, in a press release on Wednesday.

According to advance GDP estimates of CSO, the GVA growth on 2011-12 price was estimated at 6.6 per cent for 2016-17.

The CSO today released the first revised estimates of national account for 2016-17 along with second revised estimates for 2015-16 and third revised estimates for 2014-15 (with base year 2011-12).

Under the third revision, the CSO has estimated GDP growth in 2014-15 at 7.4 per cent from earlier estimates of 7.5 per cent.