India's Q2 FY19 GDP growth at 7.1%

01 Dec '18
2 min read
Courtesy: Adeolu Eletu on Unsplash
Courtesy: Adeolu Eletu on Unsplash

The Indian government has released second quarter (Q2) data for the gross domestic product (GDP) growth for the financial year 2018-19. The quarter has seen a reasonable overall GDP growth of 7.1 per cent, and the Indian economy is on track to maintain a high growth rate in the current global environment, the ministry of finance said in a statement.

The H1 FY 2018-19 growth of the GDP is 7.6 per cent and the H1 GVA growth is 7.4 per cent. The growth in the second quarter is on higher base compared to the growth of the first quarter, the statement said. 

The Manufacturing growth on a base of 7.1 per cent in Q2 2017-18 has been 7.4 per cent in Q2 2018-19.  The Construction sector has grown by 7.8 per cent.  The Gross Fixed Capital Formation as a ratio of GDP has increased by almost 1.3 percentage points over Q2 of last year. The exports for Q2 have grown by 13.4 per cent. The Government consumption for the Quarter has also significantly increased by 12.7 per cent.

The growth has been achieved despite the quarter also facing the challenge of higher oil prices resulting in much higher import bill and the weakening of the rupee, the ministry said. (RKS)

Fibre2Fashion News Desk – India

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