New Delhi: The first advance estimates for economic growth, compiled with figures from before demonetisation announcement, predict that the Indian economy will expand 7.1% in the financial year 2016-17.
The Ministry of Statistics and Programme Implementation said in a statement on Friday that the growth in GDP during 2016-17 is estimated at 7.1 percent. That is less than the 7.6% rate at which the economy expanded in 2015-16.
Agriculture as expected to grow at 4.1% which is significantly higher; service sector growing as well: Shaktikanta Das, Eco Affairs Secy pic.twitter.com/2SJvzwSxpH? ANI (@ANI_news) January 6, 2017
Agriculture, forestry and fishing is expected to expand by 4.1 percent in 2016-17 from 1.2 percent.
On the other hand, mining and quarrying is likely to shrink by 1.8 percent after recording a growth of 7.4 per cent in 2015-16.
Growth in manufacturing is expected to slow to 7.4 percent (from 9.3 percent) and construction activities to 2.9 percent (from 3.9 percent).
(With PTI inputs)
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