- Karnataka rain fury: Photos of flooded streets, uprooted treesCannes 2022: Deepika Padukone stuns at the French Riviera in Sabyasachi outfitRanbir Kapoor And Alia Bhatt's Wedding Pics - Sealed With A KissOscars 2022: Every Academy Award WinnerShane Warne (1969-2022): Australian cricket legend's life in picturesPhotos: What Russia's invasion of Ukraine looks like on the groundLata Mangeshkar (1929-2022): A pictorial tribute to the 'Nightingale of India'PM Modi unveils 216-feet tall Statue of Equality in Hyderabad (PHOTOS)Wedding pics: Mouni Roy marries Suraj Nambiar in South Indian ceremony73rd Republic Day Parade 2022 - In Pictures
Cristiano Ronaldo experienced an emotional rollercoaster as Portugal survived Slovenia in
- Zhang Zhizhen writes new history by roaring into Halle ATP semis
- Golf: DeChambeau edges McIlroy for second US Open title
- French Open: Iga Swiatek saves match point to beat Naomi Osaka
- ‘These last few days’: Chhetri shares emotional post heading into final international game
- FIH Pro League: Harmanpreet scores hat-trick as Indian men’s hockey team beats Argentina 5-4
India's GDP growth fell to 7.1% in 2016-17 from 8.2% in 2015-16 Last Updated : 31 Jan 2018 07:44:09 PM IST Representational image
In line with the earlier official estimate of the country's GDP growth in the last fiscal, demonetisation-hit India's gross domestic product during 2016-17 grew at 7.1 per cent, Central Statistics Office (CSO) data showed on Wednesday.
According to the CSO's first revised estimates of national income released on the eve of the Union Budget for the next fiscal, growth last year came in lower than the 8.2 per cent rate for 2015-16. This has been revised upwards from its provisional estimate of 8 per cent.
In terms of Gross Value Added (GVA), which excludes taxes while including subsidies, the revised estimates showed a lower growth at 7.1 per cent for 2016-17, also as compared to the 8.1 per cent real GVA growth registered for 2015-16. The GVA estimate has, however, been revised upwards from the earlier provisional estimate of 6.6 per cent.
The revised estimates take into account a wider range of numbers, including employment data.
The nominal GDP, or that at current prices, for 2016-17 has been revised down to 10.8 per cent from 11 per cent estimated earlier. For the previous year, nominal GDP has been pegged at 10.4 per cent.
The Indian economy had grown at its fastest since 2011 to reach 8.2 per cent growth during 2015-16.
On the most disruptive measure since Independence -- demonetisation, which, along with GST, "decoupled" the Indian economy from the rest of the world for around four to six quarters -- the Finance Ministry's Economic Survey 2017-18, released on Monday, said that carrots rather than sticks should be the mainstay of government policy in cleaning up the economy.
Meanwhile, data on India's eight core infrastructure industries for December also released on Wednesday, showed a sharp fall in growth at 4 per cent, as against 7.4 per cent in November.
IANS For Latest Updates Please-
Join us on
Follow us on
172.31.16.186