Lok Sabha Question No. 388 (STARRED), answered on 2017-03-29
Subject: GDP Growth
Ministry: PLANNING
Asked by: PREM SINGH CHANDUMAJRA

## GOVERNMENT OF INDIA MINISTRY OF PLANNING

## LOK SABHA STARRED QUESTION No. *388 TO BE ANSWERED ON 29.03.2017

## GDP GROWTH

*388. PROF. PREM SINGH CHANDUMAJRA:

Will the Minister of PLANNING be pleased to state:

- (a) the estimated growth rate of Gross Domestic Product (GDP) during the year 2016-17, quarterwise;
- (b) whether the growth rate of manufacturing, mining, financing, real estate, trade and hospitality sectors was higher last year in comparison to the current year and if so, the details thereof;
- (c) the details of sectors where growth rate is higher during the current year in comparison to the last year; and
- (d) the GDP growth estimated for the next financial year?

## ANSWER

MINISTER OF STATE (INDEPENDENT CHARGE) FOR MINISTRY OF PLANNING AND MINISTER OF STATE FOR MINISTRY OF URBAN DEVELOPMENT AND MINISTRY OF HOUSING & URBAN POVERTY ALLEVIATION

(RAO INDERJIT SINGH)

- (a) to (d): A Statement is laid on the Table of the House.

## STATEMENT  REFERRED  TO  IN  REPLY  TO  PARTS  (a)  TO  (d)  OF  LOK  SABHA STARRED  QUESTION  NO.  *388  REGARDING  'GDP  GROWTH'  RAISED  BY  PROF. PREM SINGH CHANDUMAJRA DUE FOR ANSWER ON 29 TH  MARCH, 2017.

- (a): As per the press note on Second Advance Estimates of National Income 2016-17 an d Quarterly Estimates of Gross Domestic Product (GDP) for the Third Quarter (Q3) of 2016-17 released by the Central Statistics Office (CSO) on 28 th February, 2017, the growth rate of GDP at constant (201112) prices for 2016-17 is estimated to be 7.1 per cent and that of first, second, and third quarter of 2016-17 is estimated at 7.2 per cent, 7.4 per cent and 7.0 per cent respectively.
- (b)  &  (c):  The  growth  rates  of  Mining  &  quarrying,  Manufacturing,  Trade,  hotels,  transport, communication  and  services  related  to  broadcasting  and    Financial,  real  estate  &  professional services was higher in 2015-16 compared to 2016-17.  Sectors viz., Agriculture, forestry & fishing, Electricity, gas & water supply, & other utility services, Construction and Public administration, defence & other services have lower growth rates in 2015-16 compared to 2016-17. The details of sector-wise growth rates for 2015-16 and 2016-17 are as follows:

Sector-wise growth rates at constant (2011-12) basic prices (Per Cent)

| Item                                                                         |   2015-16 |   2016-17 * |
|------------------------------------------------------------------------------|-----------|-------------|
| Agriculture, forestry &fishing                                               |       0.8 |         4.4 |
| Mining &quarrying                                                            |      12.3 |         1.3 |
| Manufacturing                                                                |      10.6 |         7.7 |
| Electricity, gas &water supply, &other utility services                      |       5.1 |         6.6 |
| Construction                                                                 |       2.8 |         3.1 |
| Trade, hotels, transport, communication and services related to broadcasting |      10.7 |         7.3 |
| Financial, real estate &professional services                                |      10.8 |         6.5 |
| Public administration, defence &other services                               |       6.9 |        11.2 |

Source: Central Statistics Office (CSO)

* Second Advance Estimates as on 28.02.2016

- (d): According to Economic Survey 2016-17, the rate of growth of the economy is expected to be in the range of 6.75 to 7.5 per cent during the year 2017-18.

---------