India’s GDP gets to 3 month low at 7.1% in July-September but ahead of China

Written by November 30, 2018 21:28

New Delhi: India’s Gross Domestic Product (GDP) was 7.1 percent in July-September, lowest in three quarters, but it still remained ahead of China to retain the tag of the world’s fastest-growing major economy.

Inda GDP, Gross Domestic Product

The GDP at constant prices (2011-12) had grown at 6.3 percent in the July-September quarter of the last fiscal” target, according to government data released Friday.

The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago, showing a growth rate of 7.1 percent, as per a statement of the Central Statistics Office (CSO)

The Indian economy grew at 8.2 percent in the April-June quarter of this fiscal.

The Chinese economy had expanded at the rate of 6.5 percent in the July-September period this year.

India’s GVA (gross value added) at Constant (2011-2012) Prices for the second quarter this fiscal is estimated at Rs 31.40 lakh crore, as against Rs 29.38 lakh crore year ago, showing a growth rate of 6.9 percent over the corresponding quarter of previous year.

How have economic structures performed

The CSO said that mining and quarrying output has declined by 2.4 percent in the quarter from a growth of 6.9 percent in year-ago period.

However, the manufacturing activities expanded at the rate of 7.4 percent in the quarter under review up from 7.1 percent in the year-ago quarter.

The construction sector too showed an improvement by recording a growth of 7.8 percent as against 3.1 percent earlier.

The farm sector too grew at a higher rate of 3.8 percent in the quarter as against 2.6 percent a year ago.