India's Q2 GDP growth: This is how different sectors performed
India remained the fastest growing major economy with its GDP accelerating to 7.3 percent in the September quarter, pushed mainly by farm output, although the momentum may be hit in the coming months by the impact of demonetisation.
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New Delhi: India remained the fastest growing major economy with its GDP accelerating to 7.3 percent in the September quarter, pushed mainly by farm output, although the momentum may be hit in the coming months by the impact of demonetisation.
Know below this is how different sectors performed:
Agriculture, forestry and fishing
Quarterly Gross Value Added (GVA) at basic prices for Q2 of 2016-17 from ‘agriculture, forestry and fishing’ sector grew by 3.3 percent as compared to growth of 2.0 percent in Q2 2015-16. According to the information furnished by the Department of Agriculture and Cooperation (DAC), which has been used in compiling the estimate of GVA from agriculture in Q2 of 2016-17, the production of food grains during the Kharif season of agriculture year 2016-17 was 8.9 percent as compared to decline of 3.2 percent during the same period in 2015-16. Around 51.0 percent of GVA of this sector is based on the livestock products, forestry and fisheries, which registered a combined growth of around 3.6 percent in Q2 of 2016-17.
Mining and quarrying
Quarterly GVA at basic prices for Q2 of 2016-17 from ‘mining and quarrying’ sector declined by (-) 1.5 percent as compared to growth of 5.0 percent in Q2 of 2015-16. As per the available information, private corporate sector growth in the mining sector as estimated for major listed companies at current prices is (-)1.1 percent in Q2 of 2016-17. The key indicators of mining sector, namely, production of coal, crude oil , natural gas and IIP mining registered growth rates of -3.5 per cent, -3.3 percent, -2.8 percent and -2.7 percent respectively during Q2 of 2016-17 as compared to 0.9 percent, 1.7 percent, 0.03 percent and 3.1 percent respectively in Q2 of 2015-16.
Manufacturing
Quarterly GVA at basic prices for Q2 of 2016-17 from ‘manufacturing’ sector grew by 7.1 percent as compared to growth of 9.2 percent in Q2 of 2015-16. The private corporate sector growth (which has a share of over 70 percent in the manufacturing sector) as estimated from available data of listed companies with BSE and NSE is 11.9 percent at current prices during Q2 of 2016-17. The growth in quasi - corporate and unorganized segment (which includes individual proprietorships and partnerships and khadi & village Industries has a share of around 22 percent in the manufacturing sector) has been estimated using IIP of manufacturing. IIP manufacturing registered growth rate of (-) 0.9 percent during Q2 of 2016-17 as compared to 4.7 percent in Q2 of 2015-16.
Electricity, gas, water supply and other utility services
Quarterly GVA at basic prices for Q2 of 2016-17 from ‘Electricity, Gas, water supply and other utility services’ sector grew by 3.5 percent as compared to growth of 7.5 percent in Q2 of 2015-16. The key indicator of this sector, namely, IIP of Electricity registered growth rate of 1.4 percent during Q2 of 2016-17 as compared to 6.8 percent in Q2 of 2015-16.
Construction
Quarterly GVA at basic prices for Q2 of 2016-17 from ‘Construction’ sector grew by 3.5 percent as compared to growth of 0.8 percent in Q2 of 2015-16. Key indicators of construction sector, namely, production of cement and consumption of finished steel registered growth rates of 3.3 percent and 4.8 percent respectively during Q2 of 2016-17.
Trade, hotels and Transport & communication and services related to broadcasting
Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew by 7.1 percent as compared to growth of 6.7 percent in Q2 of 2015-16. Key indicator used for estimating GVA from Trade sector is the sales tax growth. As per the available monthly data on state accounts available from CAG website, sales tax collection grew by 13.1 percent during Q2 of 2016-17. Among the other services sectors, the key indicators of railways, namely, the net tonne kilometres and passenger kilometres have shown growth rate of (-) 8.1 per cent and 0.4 percent respectively during Q2 of 2016-17. In case of other transport sectors, passengers handled by the civil aviation, cargo handled by the civil aviation and cargo handled at major ports registered growth rates of 21.1 percent, 8.1 percent and 4.1 percent, respectively, during Q2 of 2016-17.
Financial, insurance, real estate and professional services
Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew 8.2 percent as compared to growth of 11.9 percent in Q2 of 2015-16. Major component of this industry is the real estate and professional services which has a share of 76 percent. The key indicators of this sector are the quarterly growth of corporate sector for real estate sector and computer related activities which as estimated from available data from listed companies at current prices are (-)2.0 percent and 7.8 percent, respectively, during Q2 of 2016-17. The other indicators of this sector, viz., aggregate bank deposits and bank credits have shown growth rates of 11.3 per cent, and 10.4 per cent, respectively as on September 2016 as against growth of 10.6 percent and 9.1 percent respectively as on September 2015.
Public administration and defence and other services
Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew by 12.5 percent as compared to growth of 6.9 percent in Q2 of 2015-16. The key indicator of this sector namely, Union Government expenditure, net of interest payments and subsidies, grew by 20.8 percent during Q2 of 2016-17 as compared to 1.1 percent in Q2 of 2015-16.
STATEMENT 1: QUARTERLY ESTIMATES OF GVA AT BASIC PRICES
IN Q2 (JULY-SEPTEMBER) OF 2016-17
(at 2011-12 prices)
Industry |
(`in crore) |
Percentage change |
||||||||
GVA at Basic Price |
over previous year |
|||||||||
2014-15 |
2015-16 |
2016-17 |
2015-16 |
2016-17 |
||||||
Q1 |
Q2 |
Q1 |
Q2 |
Q1 |
Q2 |
Q1 |
Q2 |
Q1 |
Q2 |
|
1.agriculture,forestry&fishing |
358482 |
293560 |
367623 |
299531 |
374390 |
309538 |
2.6 |
2.0 |
1.8 |
3.3 |
2.mining&quarrying |
79708 |
60841 |
86444 |
63854 |
86091 |
62922 |
8.5 |
5.0 |
-0.4 |
-1.5 |
3.manufacturing |
418682 |
414049 |
449280 |
452062 |
490164 |
484150 |
7.3 |
9.2 |
9.1 |
7.1 |
4.electricity,gas,watersupply & other utility services |
54853 |
54845 |
57037 |
58942 |
62378 |
60994 |
4.0 |
7.5 |
9.4 |
3.5 |
5.construction |
213576 |
209577 |
225637 |
211298 |
229092 |
218676 |
5.6 |
0.8 |
1.5 |
3.5 |
6. trade, hotel, transport, communication & services related to broadcasting |
439474 |
439818 |
483238 |
469191 |
522610 |
502432 |
10.0 |
6.7 |
8.1 |
7.1 |
7.financial, insurance, real estate &professional services |
531933 |
584292 |
581471 |
653971 |
635963 |
707612 |
9.3 |
11.9 |
9.4 |
8.2 |
8.Public administration, defence& other services |
283826 |
321195 |
300705 |
343247 |
337630 |
386196 |
5.9 |
6.9 |
12.3 |
12.5 |
GVA at Basic Price |
2380534 |
2378178 |
2551435 |
2552095 |
2738318 |
2732519 |
7.2 |
7.3 |
7.3 |
7.1 |
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