Home Economy and Finance India's GDP grew by 6.8% in the last financial year, quarterly rate fell below 6% in the last quarter

India’s GDP grew by 6.8% in the last financial year, quarterly rate fell below 6% in the last quarter

The Per Capita Income for FY 2018-19 stood at ₹92,565

The Ministry of Statistics & Programme Implementation has released the provisional estimates of GDP for the financial year 2018-19. The numbers have been published at both Constant (2011-12) and Current Prices. Along with this, Quarterly Estimates of Gross Domestic Product (GDP) for the fourth quarter (January to March) has also been released.

According to the provisional estimates, the fourth quarter in 2018-19 saw a dip in GDP growth rate, as it fell to 5.8% at constant prices and 9.4% at current prices, down from 6.6% and 11% from the previous quarter. The GDP at Constant (2011-12) Prices in the fourth quarter of FY 2018‑19 is estimated at ₹37.20lakh crore.

The GDP growth rate for the financial year 2018-19 was 6.8% at constant price, and 11.2% at the current price. The growth rate showed a decreasing trend in every quarter in the financial year. The growth rate of 6.8% is the lowest in the last five years.

PeriodConstant Prices (2011‑12)Current Prices
Financial year 2018 -196.811.2
Q1 2018-19 (April-June)8.012.6
Q2 2018-19 (July-Sep)7.012.0
Q3 2018-19 (Oct-Dec)6.611.0
Q4 2018-19 (Jan-Mar)5.89.4
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The Second Advance Estimates of National Income for the financial year 2018-19 were released on 28th February, 2019. These estimates have now been revised incorporating latest estimates of Agricultural Production, Index of Industrial Production (IIP) and performance of key sectors like, Railways, Transport other than Railways, Communication, Banking, Insurance and Government Revenue Expenditure, a press release by the ministry said.

The Real GDP or GDP at Constant (2011-12) Prices for the financial year 2018‑19 is now estimated at ₹140.78 lakh crore, showing a growth rate of 6.8%over the GDP for the year 2017‑18 of ₹131.80 lakh crore. At current prices the GDP is estimated at ₹90.10 lakh crore.

The sectors which registered growth rate of over 7.0% are public administration, defence and other services (8.6%), construction (8.7%), financial, real estate and professional services (7.4%), electricity, gas, water supply & other utility services (7.0%). The growth in the ‘agriculture, forestry and fishing’, ‘mining & quarrying’, ‘manufacturing’ and ‘trade, hotels, transport, communication and services related to broadcasting’ is estimated to be 2.9%, 1.3%, 6.9% and 6.9% respectively.

The Gross National Income (GNI) at 2011-12 Prices rose by 6.9%, and it is now estimated at ₹139.32 lakh crore at constant prices for the FY 2018-19, as against the previous year’s estimate of R130.34lakh crore. The Per Capita Income for FY 2018-19 stood at ₹92,565, up from ₹87,623 in the previous year, registering a growth rate of 5.6%. At current prices, the GNI was ₹188.17 lakh crore, and per capita income was ₹ 1,26,406.

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