GDP expected to grow at 6.5% for FY18

GDP expected to grow at 6.5% for FY18

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The government said it expect GDP growth to slow down to 6.5% in the financial year ending in March, according to Central Statistics Office data.

Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2017- 18 is likely to attain a level of INR 129.85 lakh crore, as against the Provisional Estimate of GDP for the year 2016-17 of INR 121.90 lakh crore, released on 31st May 2017.

The agriculture sector is expected to grow at 2.1% in FY18, slower than 4.9% in the previous year, while manufacturing is likely to grow at 4.6%, compared with 7.9% a year ago, according to CSO.

The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘manufacturing’, and ‘construction’ is estimated to be 2.1 per cent, 2.9 per cent, 4.6 percent and 3.6 percent respectively.