What moved your economy: Check out Q4 GDP growth highlights

Q4 GDP growth highlights: The Indian economy posted a GDP growth of 7.7%, gaining further momentum in January-March 2018 (Q4 FY18) period, data from the Central Statistics Office showed on Thursday. This rate of growth is faster than the 7.2% achieved in October-December 2017. This is well above China’s pace of 6.8% for the quarter ending in March, which means India retains the tag of being the fastest growing economy in the world. The highlights of the CSO estimates of Gross Domestic Product growth rate are:

1. GDP at 2011-12 prices in the fourth quarter (Q4) of financial year 2017-18 registered growth rate of 7.7 per cent as against  5.6 percent, 6.3 percent and 7.0 percent respectively, in the first three quarters, Q1, Q2 and Q3 of 2017-18. 

2. Rapid growth in agriculture (4.5%), manufacturing (9.1%) and construction sectors (11.5%) contributed to the overall growth.

3. The growth rate of GVA at constant (2011-12) prices in Q4 of 2017-18 for agriculture & allied sectors, industry and services sectors are estimated at 4.5 per cent, 8.8 per cent, and 7.7 per cent respectively.

4. The rate of growth of gross fixed capital formation at constant prices increased to 14.4 percent in the fourth quarter 

5. As per the Provisional estimates of national income, the growth rate of GDP at constant (2011-12) prices for the financial year 2017-18 is estimated at 6.7 percent. 

6. Growth rate of GVA at constant (2011-12) prices for agriculture & allied sectors, industry and services sectors for the year 2017-18 are estimated at 3.4 per cent, 5.5 per cent, and 7.9 per cent respectively.

7. Estimates including growth rates of Q1, Q2 and Q3 of 2017-18 released earlier have been revised in accordance with the revision policy of National Accounts. 

8. GDP at constant (2011-12) prices in Q4 of 2017-18 is estimated at R 34.77 lakh crore, as against Rs 32.27 lakh crore in Q4 of 2016-17, showing a growth rate of 7.7 percent. 

9. The Second Advance Estimates of national income for the year 2017-18, released on 28th February, have now been revised.

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10. Real GDP for the year 2017-18 is now estimated at Rs 130.11 lakh crore showing a growth rate of 6.7 percent over First Revised Estimates of GDP for the year 2016-17 of Rs 121.96 lakh crore, released on 31st January, 2018.