India’S Fast Growing Economy Growth Goes Down (Download PDF)

()

Download PDF of This Page (Size: 223.83 K)

India has registered 7.1 % growth in the financial year 2016 - 17 which was 8 % in 2015 - 16, as recently released data of Ministry of Statistics. , India has registered GDP growth of 6.1 % in the fourth quarter of 2016 - 17 which was lower compared to China’s 6.9%, so India lost fastest growing economy tag.

Gross Value added growth of India

Gross Value Added Growth of India

Gross Value added growth of India

  • The Gross value added (GVA) growth is decline as it was 6.6 % for 2016 - 17 and 5.6 % in the Q4 of 2016 - 17, which was 7.9 % in 2015 - 16 and 8.7 % in Q4 of 2015 - 16.
  • The GDP growth rate was somewhat reported higher due to increase in proportionate in indirect tax net of subsidies.
  • GDP describe growth of whole economy where as GVA describe growth of enterprises, government and households levels, so GDP is GVA of all enterprises, government and households.
  • Gross Value Added (GVA) is based on supply or production of economy.
  • The GDP numbers are decided on bases of recently adopted new 2011 - 12 base year for Index of Industrial Production (IIP) and Wholesale Price Index (WPI).

Key facts

  • The demonetisation drive of the government in November 2016 was he mejour step of GOI and it had put majour ipact on the economy so GDP growth got down in Q3 and Q4 compared to growth rates of beginning of the year.
  • GVA growth rate were goes down in every sector in Q4 of 2016 - 17 compared to Q4 of 2015 - 16.
  • Capital formation was also decreases with below 30 % growth.

- Published/Last Modified on: June 8, 2017

Eco.

Monthy-updated, fully-solved, large current affairs-2018 question bank(more than 2000 problems): Quickly cover most-important current-affairs questions with pointwise explanations especially designed for IAS, CBSE-NET, Bank-PO and other competetive exams.