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6
January 2017
The Indian economy is expected to
grow at 7.1% this fiscal, according to an official advance estimate for the
year released on Friday, but without taking into consideration the impact of
demonetisation. The actual expansion in the first six months of 2016-17 stood
at 7.1%.
According to the estimate of
national income for 2016-17 released by the Central Statistics Office (CSO),
the country' gross domestic product will grow at 7.1% in 2016-17 compared to
7.6% in 2015-16.
The Total Investment & Insurance Solutions
"The growth in deposits is an
outlier, hence November data was not used for the financials,"India's
Chief Statistician T.C.A. Anant said, releasing the advance estimate on
national income.
The Total Investment & Insurance Solutions
The CSO has primarily used
seven-month data to extrapolate for the full fiscal.
The anticipated growth of real GVA
(gross value added, which excludes taxes and subsidies) in 2016-17 is 7%
against 7.2% in 2015-16, said an official statement.
The GVA at basic prices for 2016-17
for manufacturing sector is estimated to grow by 7.4% as compared to growth of
9.3% in 2015-16.
The Total Investment & Insurance Solutions
The agriculture, forestry and
fishing sector is likely to show a growth of 4.1% in its GVA during 2016-17, as
against the previous year's growth rate of 1.2%.
The estimated growth in GVA for
financial, insurance, real estate and professional services sector during
2016-17 is placed at 9.0% as compared to growth of 10.3% in 2015-16.The Total Investment
& Insurance Solutions
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