• search
For Quick Alerts
For Daily Alerts

These are the sectors that pushed GDP to a 15-quarter high of 8.2 %

By Vikas

New Delhi, Aug 31: The Indian Economy posted a robust growth of 8.2 % in the first quarter of fiscal 2018-19. The data released by the Central Statistics Office today said the gross domestic product (GDP) at constant (2011-12) prices in the first quarter of 2018-19 is estimated at Rs 33.74 lakh crore, as against Rs 31.18 lakh crore in Q1 of 2017-18, showing a growth rate of 8.2 per cent.

This is the highest GDP growth since the second quarter (Q2) of the financial year 2014-15 when the GDP grew at 8.4 per cent.

Representational Image

The top sectors that significantly contributed to this 8.2% growth are manufacturing, electricity, gas, water supply & other utility services, construction' and public administration, defence and other services'. These sectors grew at over 7 % during April-June 2018 period.

The manufacturing sector grew at 13.5 % compared to -1.8 % last year while the construction sector grew at 8.7 percent compared to 1.8 percent last year. The mining sector grew at 0.1 percent compared to 1.7 percent last year while the agriculture sector grew at 5.3 percent compared to 3 percent last year. The financial services sector, however, grew at 6.5 percent compared to 8.4 percent last year.

The growth in the last two years had been lowest in the first quarter (Q1) of fiscal 2017-18 when it had dipped to 5.6 per cent. Since then there has been a steady upward trend - Q1 (2017-18) - 5.6%, Q2 (2017-18) - 6.3%, Q3 (2017-18) - 7.0% and Q4 (2017-18) - 7.7 %.

[GDP growth for Q1 of financial year 2018-19 is 8.2%]

The GDP growth during the last quarter of 2016-17 (Q4) was 6.1% and for the subsequent quarter it was 5.6%. This, according to economists, was due to the impact of demonetisation. Since hitting 5.6% low, the progress has been a steady one and it can be said that the economy is out of the demonetisation blues.

With this, India continues to remain world's fastest growing major economy. The world's second largest economy, China, reported a 6.7 per cent growth for June quarter compared with 6.8 per cent in March quarter.

[Eight core sectors grow by 6.6 per cent in July]

However despite the strong Q1 numbers, there is apprehension about the economy slowing down in the coming times.

"Going forward, the base effect will not be so favourable. And when we reach Q3 and Q4, the rate of growth may decline and the annual growth rate may be more or less like last year's," tweeted former finance minister P Chidambaram.

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more