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GDP advance estimates predict economic growth at 7.2% in 2018-19

ANI | Updated: Jan 08, 2019 04:04 IST

New Delhi [India], Jan 8 (ANI): The growth in GDP during 2018-19 is estimated at 7.2 percent as compared to the growth rate of 6.7per cent in 2017-18, said Government on Monday.
According to the first advance estimates of national income for the financial year 2018-19, released by Ministry of Statistics and Programme Implementation, the real GDP or Gross Domestic Product (GDP) at Constant Prices (2011-12) in the year 2018-19 is likely to attain a level of Rs 39.52lakh crore, as against the Provisional Estimate of GDP for the year 2017-18 of Rs 130.11 lakh crore, released on 31st May 2018.
GDP is derived by adding Taxes on Products net of Subsidies on Products to Gross Value Added (GVA) at Basic Prices.
The growth rate in Per Capita Income is also estimated at 6.1per cent during 2018-19, as against 5.4per cent in the previous year.
The nominal Net National Income (NNI), also known as National Income (at Current Prices) is likely to be Rs 167.03lakh crore during 2018-19, as against Rs 148.49 lakh crore for the year 2017-18.
In terms of growth rates, the National Income is expected to register a growth rate of 12.5per cent in 2018-19 as against the previous year's growth rate of 10.1 percent.
In December 2018, the Reserve Bank of India (RBI) had pegged India's gross domestic product (GDP) growth rate for the financial year 2018-19 at 7.4 percent and 7.2 percent in H2. (ANI)