The Indian economy is expected to grow at 7.2 per cent in 2018-19, a tad higher from 6.7 per cent in the previous fiscal, mainly due to improvement in the performance of agriculture and manufacturing sectors.
This data was released by the Central Statistics Office, today. Releasing the first advance estimates of National Income for 2018-19, the Central Statistics Office (CSO) said, “The growth in GDP during 2018-19 is estimated at 7.2 per cent as compared to the growth rate of 6.7 per cent in 2017-18.”
“Real GVA (Gross Value Added) is anticipated to grow at 7 per cent in the current fiscal as against 6.5 per cent in 2017-18,” it added. According to the CSO data, the expansion in activities in ‘agriculture, forestry and fishing’ is likely to increase to 3.8 per cent in the current fiscal from 3.4 per cent in the preceding year.
The growth of manufacturing sector is expected to accelerate to 8.3 per cent this fiscal, up from 5.7 per cent in 2017-18. The Gross Domestic Product (GDP) had expanded by 7.1 per cent in 2016-17 and 8.2 per cent in 2015-16.