The government Thursday revised the economic growth rate upwards to 7.2% for 2017-18 from the 6.7% estimated earlier, mainly driven by the performance of farm sector. "Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 stand at Rs 131.80 lakh crore and Rs 122.98 lakh crore, respectively, showing growth of 7.2% during 2017-18 and 8.2% during 2016-17 (from earlier estimate of 7.1%)," the CSO said. For the current fiscal, in May, the CSO in its advance estimate had projected a growth rate of 7.2%.The 2017-18 growth is lowest in four years. As regards the per capita income, the CSO's first revised estimate said it was Rs 1,04,659 and Rs 1,14,958 for 2016-17 and 2017-18, respectively. Gross Capital Formation (GCF), a barometer of investment activities, at current prices has been estimated at Rs 55.27 lakh crore for 2017-18, compared to Rs 47.41 lakh crore during 2016-17.

Source: dna January 31, 2019 13:07 UTC