Central Statistics Office (CSO) has released the estimate of growth for the fiscal year 2018-19 at 7.2%, which posts a 0.5% growth as compared to the 6.7% GDP registered during the previous fiscal. The rise in the economic output is primarily on the back of improvements in the manufacturing and construction sector.

The Central Statistics Office (CSO) in its first advance estimates of National Income for 2018-19 stated that the growth in GDP during 2018-19 is estimated at 7.2% as compared to the growth rate of 6.7% in 2017-18. Real GVA (Gross Value Added) is anticipated to grow at 7% in the current fiscal as against 6.5% in 2017-18, CSO added.

The estimate of CSO is, however, a little lower than the growth projection made by the Reserve Bank of India at 7.4%. The gross domestic product (GDP) it the previous fiscal year stood at 7.1% in 2016-17 and 8.2% in 2015-16.

According to the CSO data, Agriculture, Forestry and Fishing sector is estimated to grow by 3.8 per cent as compared to a growth of 3.4 per cent in 2017-18. The manufacturing sector is estimated to grow by 8.3 per cent as compared to growth of 5.7 per cent in 2017-18.

Construction sector is expected to grow by 8.9 per cent as compared to growth of 5.7 per cent in 2017-18. Electricity, Gas, Water Supply and Other Utility Services sector is expected to grow by 9.4 per cent as compared to growth of 7.2 per cent in 2017-18.

According to the CSO estimates, the per capita net national income during 2018-19 will be Rs. 1,25,397, showing a rise of 11.1% as compared to Rs. 1,12,835 during 2017-18 with the growth rate of 8.6%.

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