Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Note ban pulls down Q3 GDP growth in India to 7%

Author: IANS/Wednesday, March 1, 2017/Categories: Government

Note ban pulls down Q3 GDP growth in India to 7%

New Delhi, Feb 28 (IANS) Reflecting a marginal impact of the November 8 demonetisation measure, India's GDP for the third quarter ended December, estimated at Rs 30.28 lakh crore, recorded a growth of 7%, compared with 7.3% in the second quarter, official data showed.

The country had registered a Gross Domestic Product of Rs 28.31 lakh crore in the corresponding quarter of 2015-16. The second quarter was slower than the 7.6% increase posted in the corresponding quarter of 2015-16. The estimates of GDP growth for the full fiscal 2016-17 at 7.1%, marked a sharper fall from the 7.9% recorded for 2015-16. 
 
In terms of gross value added (GVA) - considered a better measure of economic performance, as it excludes product taxes and subsidies - of Rs 28.02 lakh crore for the quarter, the growth at 6.6% was slower compared with 7% in the previous year, mainly due to a contraction in the financial and real estate sectors.

Within the GVA, the manufacturing activity showed a sharp fall in the December quarter at 8.3%, against 12.8% in the same quarter of the previous year. While construction growth fell to 2.7%, from 3.5% the year before, financial, real estate and professional services GVA during the quarter in consideration saw a massive fall to 3.1%, from 10.4% growth seen in the third quarter of 2015-16.
However, government services, including defence, logged a robust growth of 11.9%, against 7.5% in the previous year. The primary sector, including agriculture and fisheries, bounced back impressively during the quarter in question with growth of 6%, against a decline of 2.2% in the same quarter of the previous year. 
 

Print Rate this article:
No rating

Number of views (36)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.