India to grow at 7.2 per cent in 2018-19: CSO

March 1, 2019

The Central Statistics Office has released the first advance estimates of National Income for 2018-19. The observations made by CSO are:

Indian economy is expected to grow at 7.2 per cent in 2018-19, a tad higher from 6.7 per cent in the 2018-18.
Real GVA (Gross Value Added) is expected to grow at 7 per cent in the current fiscal as against 6.5 per cent in 2017-18.
The expansion in activities in agriculture, forestry and fishing is likely to increase to 3.8 per cent in the current fiscal from 3.4 per cent in the preceding year.
Growth in the manufacturing sector is expected to increase to 8.3 per cent in 2018-19 up from 5.7 per cent in 2017-18.
The growth in the mining and quarrying sector is estimated to decline from 2.9 per cent in 2017-18 to 0.8 per cent in the current fiscal.
Trade, hotels, transport, communication and services related to broadcasting will also witness deceleration to 6.9 per cent in 2018-19 from 8 per cent in 2017-18.
The growth rate of public administration, defence and other services will also dip to 8.9 per cent from 10 per cent last fiscal.
Electricity, gas, water supply & other utility services growth is estimated at 9.4 per cent in 2018-19, up from 7.2 per cent in 2017-18.
The construction sector is expected to grow at 8.9 per cent from 5.7 per cent previous fiscal.
Financial, real estate & professional services growth will be a tad higher at 6.8 per cent this fiscal against 6.6 per cent in 2017-18.

CSO also estimates per capita net national income during 2018-19 to be at Rs 1,25,397, an increase of 11.1 per cent as compared to Rs 1,12,835 during 2017-18 with the growth rate of 8.6 per cent.

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