According to official data released by the Central Statistics Office (CSO), the Indian economy grew 7 percent in the first quarter of this fiscal, showing signs of slowing in comparison with the 7.5 percent expansion in the quarter before. On the other hand, when these stats are compared to the growth 6.7 percent registered in the first quarter of the last fiscal, the rate is much much higher.
Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation released some stats, showed that the growth of 7 percent was led mainly by expansion in commercial and financial services and manufacturing output.
GDP which is the aggregate market value of all the goods and services produced in the country, had expanded by 6.7 percent in the corresponding quarter of last fiscal.
“GDP at constant (2011-12) prices in Q1 of 2015-16 is estimated at Rs.27.13 lakh crore, as against Rs.25.35 lakh crore in Q1 of 2014-15, showing a growth rate of 7.00 percent,” the CSO was quoted in a statement.
“Quarterly GVA (gross value added) at constant (2011-2012) prices for Q1 of 2015-16 is estimated at Rs.25.80 lakh crore, as against Rs.24.10 lakh crore in Q1 of 2014-15, showing a growth rate of 7.1 per cent over the corresponding quarter of previous year,” the statement said.
