2018 Quarter 1 GDP Rate: In the first quarter of the current financial year, the domestic economy grew at 8.2 percent, the highest in the last 15 quarters, on better performance in the manufacturing and agriculture sector. The government released its figures on Friday. The country’s bidder became stronger as the fastest growing economy by this growth rate. China’s growth rate was 6.7 percent during the quarter. The GDP growth rate in the last quarter was 7.7 percent. The statement issued by the Central Statistics Office (CSO) said that in the first quarter of the current financial year(2018-19), the gross domestic product (GDP) has been reached at Rs 33.74 lakh crore at constant prices of 2011-2012, compared to 31.18 lakh in the first quarter of the previous financial year(2017-18). There were a million rupees. This increase is 8.2 percent of net worth.
2018 Quarter 1 Gross domestic product (GDP) Growth Rate
Based on the base price, gross value added of the quarter has increased by 8 percent and reached at Rs 31.63 lakh crore compared to Rs 29.29 lakh crore in the previous financial year. Earlier, the fastest growth in GDP in the July-September quarter of 2014-15 was achieved. Then the GDP growth was 8.4 percent. Grow value increase in the manufacturing sector at the rate of 13.5 percent during this period. It dropped 1.8 percent in the same quarter last fiscal. During this period, agriculture, forestry, and fisheries sector increased by 5.3 percent compared to the first quarter of the previous financial year. Agricultural GVA growth in the first quarter increased from 3% to 5.3%. Mining has decreased in GVA growth. The GVA of mining is 0.1 percent.
The service sector growth at Quarter 1 is 7.35 percent in FY19. Similarly, the growth of the industry is 10.29 percent. Trade, hotels, and transport sector growth in the first quarter of 2019 decreased from 6.8 percent to 6.7 percent. Similarly, the electricity growth has been decreased from 7.7 percent to 7.3 percent.