Government slashes GDP development price of 2018-19 to six.1 p.c

by Jeremy Spirogis
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New Delhi: The authorities has revised the expansion price of gross home product (GDP) to six.1 p.c for the monetary 12 months 2018-19. It was earlier estimated to be 6.eight p.c. Estimates of GDP development have come down attributable to declining development in mining, manufacturing and agriculture sectors within the revised estimates.

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According to the revised nationwide accounting information launched on Friday by the National Statistics Office, "Real GDP or GDP at fixed worth (base 12 months 2011-12) stood at Rs 139.81 lakh crore in 2018-19. The precise GDP in 2017-18 was Rs 131.75 lakh crore. In this manner, the expansion price of GDP in 2018-19 was 6.1 p.c, which was 7 p.c in 2017-18.

As per the primary modification launched in January 2019, actual GDP in 2017-18 stood at Rs 131.80 lakh crore, displaying a rise of seven.2 p.c.

It states, "The real gross value addition (GVA) growth in 2018-19 was lower than in 2017-18." <! –

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                 The primary causes for this are agriculture, forest and fisheries, mining and allied actions, manufacturing, electrical energy, fuel, water provide and different utility companies, monetary companies, public administration and protection and different companies, the expansion price is low.

Growth charges of main (agriculture, forestry, fishery and mining and allied actions), secondary (manufacturing, electrical energy, fuel, water provide and different utility companies and development) and companies sector at one p.c respectively in FY 2018-19 It was 6 p.c and seven.7 p.c, in comparison with 5.eight p.c, 6.5 p.c and 6.9 p.c respectively within the earlier monetary 12 months.

Net nationwide revenue at present costs was Rs 167.89 lakh crore in 2018-19, which was Rs 151.50 lakh crore in 2017-18. In this manner, it elevated by 10.eight p.c in 2018-19, from 11.2 p.c within the earlier monetary 12 months.

In FY 2017-18, the per capita revenue (web nationwide revenue per capita at present costs) stood at Rs 1,15,293. It was Rs 1,26,521 in 2018-19. Per capita private closing consumption expenditure (PFCE) at present costs was Rs 76,794 in 2017-18 and Rs 84,808 in 2018-19.

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