New Delhi, Aug 31 (IANS) An upswing in manufacturing activity accelerated India’s GDP growth rate in the first quarter of 2018-19 to 8.2 per cent, official data showed here on Friday.
According to the Central Statistics Office (CSO), the GDP at 2011-12 prices in the first quarter (Q1) of 2018-19 registered a growth rate of 8.2 per cent, up from 7.7 per cent reported for Q4 of 2017-18 and 5.6 per cent in the corresponding period of the previous fiscal.
“The economic activities which registered growth of over 7 per cent in Q1 of 2018-19 over Q1 of 2017-18 are ‘manufacturing’, ‘electricity, gas, water supply and other utility services’, ‘construction’ and ‘public administration, defence and other services’,” a statement by Ministry of Statistics and Programme Implementation said.
“The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘trade, hotels, transport, communication and services related to broadcasting’ and financial, real estate and professional services is estimated to be 5.3 per cent, 0.1 per cent, 6.7 per cent, and 6.5 per cent respectively during this period.”
Besides, the growth rate of gross value added (GVA) in Q1 of 2018-19 stood at 8 per cent from a rise 5.6 per cent during the corresponding period of the previous fiscal.
GVA includes taxes but excludes subsidies.
Sector-wise, quarterly GVA at basic prices for Q1 2018-19 from “agriculture, forestry and fishing” sector grew by 5.3 percent as compared to growth of 3 per cent in Q1 2017-18.
As per the data, quarterly GVA at basic prices for Q1 2018-19 from “manufacturing” sector grew by 13.5 per cent as compared to (-) 1.8 per cent in Q1 2017-18.
“IIP manufacturing registered growth rate of 5.2 per cent during Q1 of 2018-19 as compared to 1.6 per cent during Q1 of 2017-18,” the statement said.