India's GDP grows at 7.7% in Q4 FY 2017-18, with full year growth rate estimated at 6.7% to $1.931 trillion

The Central Statistics Office (CSO), of the Ministry of Statistics and Programme Implementation (MOSPI) has released the estimates of Gross Domestic Product (GDP) for the fourth quarter (January-March) Q4 of 2017-18 and Provisional estimates (PE) of national income for the financial year 2017-18.

Quarterly Estimates (Q4, 2017-18):

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

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

Read:India's Q1 (June-August) 2018-19 GDP estimated to have grown at 8.2% -- an all-time high for Modi government - Republic World 

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

At the sectoral level, the growth rate of Gross Value Added (GVA) at constant (2011-12) prices in Q4 of 2017-18 for agriculture & allied sectors, industry and services sectors are estimated at 4.5%, 8.8%, and 7.7% respectively.

The rate of growth of gross fixed capital formation at constant prices increased to 14.4% in the fourth quarter on account of 9.0% growth in capital goods in Q4 of 2017-18 as against 0.8%, 6.1% and 9.1% respectively, in the first three quarters, Q1, Q2 and Q3 of 2017-18.

Provisional estimates of GDP for 2017-18

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%. At the sectoral level, the 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%, 5.5%, and 7.9% respectively.

Real GDP or GDP at constant (2011-12) prices for the year 2017-18 is now estimated at 130.11 lakh crore ($1.931 trillion as per prevailing exchange rate) showing a growth rate of 6.7% over First Revised Estimates of GDP for the year 2016-17 of 121.96 lakh crore, released on January 31, 2018.