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Indian economy growth estimated to stand at 6.5 percent in 2017-18

Indian economy growth estimated to stand at 6.5 percent in 2017-18

India Blooms News Service | @indiablooms | 05 Jan 2018, 07:30 pm

New Delhi, Jan 5 (IBNS): The Indian economy is likely to mark a slow growth 6.5 percent in 201718, government data released on Friday said.

The growth data stood at  7.1 per cent in 2016-17 session.

"Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2017- 18 is likely to attain a level of `129.85 lakh crore, as against the Provisional Estimate of GDP for the year 2016-17 of ` 121.90 lakh crore, released on 31st May 2017. The growth in GDP during 2017-18 is estimated at 6.5 percent as compared to the growth rate of 7.1 per cent in 2016-17," read a statement issued by the Ministry of Statistics & Programme Implementation.

"Real GVA, i.e, GVA at basic constant prices (2011-12) is anticipated to increase from `111.85 lakh crore in 2016-17 to `118.71 lakh crore in 2017-18. Anticipated growth of real GVA at basic prices in 2017-18 is 6.1 percent as against 6.6 percent in 2016-17," it said.