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India's Q2 GDP rises by 7.3%, lower than expected

Speed News Desk | Updated on: 30 November 2016, 20:00 IST

The Indian economy grew at 7.3% per cent in the September quarter of current fiscal, up from 7.1% in the previous three months, mainly on improved performance of manufacturing, services and trade sectors.

The Gross Domestic Product (GDP) or national income was 7.6% in the second quarter of the last fiscal. According to the data released by the Central Statistics Office (CSO), the Gross Value Added (GVA), which is estimated at the basic price, showed a growth of 7.1% in the second quarter of 2016-17, compared to 7.3% in the year ago period.

The GDP growth data is calculated under the new methodology at market price, while GVA is calculated primarily at factor cost. GDP is GVA plus taxes on products, minus subsidies on them.

The sectors which registered growth of over 7% in July-September quarter are 'public administration, defence and other services', 'financial, insurance, real estate and professional services', 'manufacturing' and 'trade, hotels and transport and communication and services related to broadcasting', the data said.

Among various segments, it was mainly agriculture which showed some improvement. The farm sector rose 3.3% in the second quarter against 1.1% in the first quarter.

The government-backed public administration, defence and other services which expanded by 12.5% against 12.3%.

First published: 30 November 2016, 20:00 IST