Home / Knowledge / News / Textiles / India's GDP growth in FY16 accelerates to 7.6 %
India's GDP growth in FY16 accelerates to 7.6 %
01
Jun '16
India's GDP numbers for quarter January-March stood at 7.9 per cent as against 7.3 per cent in October-December, thereby making it the fastest growing economy in the world, according to a Finance Ministry statement.

The government data projected a growth of 7.6 per cent in 2015-16 against the government's more modest expectation of 7-7.5 per cent growth. This despite growth decelerating to 7.3 per cent in the quarter ended December from 7.7 per cent in the previous quarter.

According to the Provisional Accounts for 2015-16, fiscal deficit in 2015-16 stood at 3.9 of GDP, a significant improvement over 4.1 per cent in 2014-15 and 4.7 per cent in 2013-14.

Revenue Deficit has also shown significant improvement due to increase in Capital Expenditure of the Central Government. Revenue Deficit which stood at 3.2 per cent of GDP in 2013-14 has improved to 2.9 per cent in 2014-15 and 2.5 per cent in 2015-16.

Capital expenditure has increased substantially to Rs 2,35,253 crore in 2015-16 which is an increase of Rs. 38,572 crore over 2014-15 and Rs.47,578 crore over 2013-14.

The Tirupur Exporters Association has congratulated the government for the achievement of 7.6 per cent GDP growth in FY 16.

Dr. A.Sakthivel, TEA President said in a press release today that he has sent a congratulatory message to the Prime Minister for the GDP figures which is a five-year high. He added that India continues to maintain the lead over China and is still fastest growing economy. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Textiles | On 20th Jan 2017

Xeros to focus on textile sector to develop technology

Xeros technology group plc, the developer and provider of patented...

Apparel/Garments | On 20th Jan 2017

Nine West acquiring womenswear marketer Kasper Group

US based footwear, accessories and denim company Nine West Holdings...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search