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India's Q2 GDP growth: This is how different sectors performed

India remained the fastest growing major economy with its GDP accelerating to 7.3 percent in the September quarter, pushed mainly by farm output, although the momentum may be hit in the coming months by the impact of demonetisation.


India's Q2 GDP growth: This is how different sectors performed

New Delhi: India remained the fastest growing major economy with its GDP accelerating to 7.3 percent in the September quarter, pushed mainly by farm output, although the momentum may be hit in the coming months by the impact of demonetisation.

Know below this is how different sectors performed:

Agriculture, forestry and fishing

Quarterly Gross Value Added  (GVA) at basic prices for Q2 of 2016-17 from ‘agriculture, forestry and fishing’ sector grew by 3.3 percent as compared to growth of 2.0 percent in Q2 2015-16. According  to the information  furnished  by  the  Department  of  Agriculture  and Cooperation  (DAC),  which  has been  used  in  compiling  the  estimate  of  GVA from agriculture in Q2 of  2016-17, the production of  food grains  during  the  Kharif  season of agriculture year 2016-17 was 8.9 percent as compared to decline of 3.2 percent during the same period in 2015-16.  Around 51.0 percent of GVA of this sector is based on the livestock products, forestry and fisheries, which registered a combined growth of around 3.6 percent in Q2 of 2016-17.

Mining and quarrying

Quarterly GVA at basic prices for Q2 of 2016-17 from ‘mining and quarrying’ sector declined  by (-) 1.5 percent as compared to growth of 5.0 percent in Q2 of 2015-16. As per the available information, private corporate sector growth in the mining sector as estimated for major listed companies at current prices is (-)1.1 percent in Q2 of 2016-17. The key indicators of mining sector, namely, production of coal, crude oil , natural gas and IIP mining registered growth rates of -3.5 per cent, -3.3 percent, -2.8 percent and -2.7 percent respectively during  Q2 of 2016-17 as compared to 0.9 percent, 1.7 percent, 0.03 percent and 3.1 percent respectively in Q2 of 2015-16.

Manufacturing

Quarterly GVA at basic prices for Q2 of 2016-17 from ‘manufacturing’ sector grew by 7.1 percent as compared to growth of 9.2 percent in Q2 of 2015-16. The private corporate sector growth (which has a share of over 70 percent in the manufacturing sector) as estimated from available data of listed companies with BSE and NSE is 11.9 percent at current prices during Q2 of 2016-17. The growth in quasi - corporate and unorganized segment (which includes individual proprietorships and partnerships and khadi & village Industries has a share of around 22 percent in the manufacturing sector) has been estimated using IIP of manufacturing. IIP manufacturing registered growth rate of (-) 0.9 percent during Q2 of 2016-17 as compared to 4.7 percent in Q2 of 2015-16.

Electricity, gas, water supply and other utility services

Quarterly GVA at basic prices for  Q2 of 2016-17 from  ‘Electricity, Gas, water supply and other utility services’  sector  grew by 3.5 percent as compared to growth of 7.5 percent in Q2 of 2015-16. The key indicator of this sector, namely, IIP of Electricity registered growth rate of 1.4 percent during Q2 of 2016-17 as compared to 6.8 percent in Q2 of 2015-16.

Construction

Quarterly GVA at basic prices for Q2 of 2016-17 from ‘Construction’ sector grew by 3.5 percent as compared to growth of 0.8 percent in Q2 of 2015-16. Key indicators of construction sector, namely, production of cement and consumption of finished steel registered growth rates of 3.3 percent and 4.8 percent respectively during Q2 of 2016-17.

 Trade, hotels and Transport & communication and services related to broadcasting

Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew by 7.1 percent as compared to growth of 6.7 percent in Q2 of 2015-16. Key indicator used for estimating GVA from Trade sector is the sales tax growth.  As per the available monthly data on state accounts available from CAG website, sales tax collection grew by 13.1 percent during Q2 of 2016-17.  Among the other services sectors, the key indicators of railways, namely, the net tonne kilometres and passenger kilometres have shown growth rate of (-) 8.1 per cent and 0.4 percent respectively during Q2 of 2016-17.  In case of other transport sectors, passengers handled by the civil aviation, cargo handled by the civil aviation and cargo handled at major ports registered growth rates of 21.1 percent, 8.1 percent and 4.1 percent, respectively, during Q2 of  2016-17.

Financial, insurance, real estate and professional services

Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew 8.2 percent as compared to growth of 11.9 percent in Q2 of 2015-16.  Major component of this industry is the real estate and professional services which has a share of 76 percent. The key indicators of this sector are the quarterly growth of corporate sector for real estate sector and computer related activities which as estimated from available data from listed companies at current prices are (-)2.0 percent and 7.8 percent, respectively, during Q2 of 2016-17. The other indicators of this sector, viz., aggregate bank deposits and bank credits have shown growth rates of 11.3 per cent, and 10.4 per cent, respectively as on September 2016 as against growth of  10.6 percent and 9.1 percent respectively  as on September 2015.

Public administration and defence and other services

Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew by 12.5 percent as compared to growth of 6.9 percent in Q2 of 2015-16. The key indicator of this sector namely, Union Government expenditure, net of interest payments and subsidies, grew by 20.8 percent during Q2 of 2016-17 as compared to 1.1 percent in Q2 of 2015-16.

 

 

STATEMENT 1: QUARTERLY ESTIMATES OF GVA AT BASIC PRICES  

 

IN Q2 (JULY-SEPTEMBER) OF 2016-17

(at 2011-12 prices)
 

Industry  

(`in crore)

Percentage change

GVA at Basic Price

over previous year

2014-15

2015-16

2016-17

2015-16

2016-17

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

1.agriculture,forestry&fishing

358482

293560

367623

299531

374390

309538

2.6

2.0

1.8

3.3

2.mining&quarrying

79708

60841

86444

63854

86091

62922

8.5

5.0

-0.4

-1.5

3.manufacturing

418682

414049

449280

452062

490164

484150

7.3

9.2

9.1

7.1

4.electricity,gas,watersupply & other utility services

54853

54845

57037

58942

62378

60994

4.0

7.5

9.4

3.5

5.construction

213576

209577

225637

211298

229092

218676

5.6

0.8

1.5

3.5

6. trade, hotel, transport, communication & services related to broadcasting

439474

439818

483238

469191

522610

502432

10.0

6.7

8.1

7.1

7.financial, insurance, real estate &professional services

531933

584292

581471

653971

635963

707612

9.3

11.9

9.4

8.2

8.Public administration, defence& other services

283826

321195

300705

343247

337630

386196

5.9

6.9

12.3

12.5

GVA at Basic Price

2380534

2378178

2551435

2552095

2738318

2732519

7.2

7.3

7.3

7.1

 

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