Q4 GDP growth jumps 7.7%: From per capita income to agri, check out 10 key takeaways

In some massive news for the country, it has been revealed that India's GDP growth for the fourth quarter of 2017-18 has come in at 7.7 per cent. This is as per data from the Central Statistics Office that was released on Thursday. "GDP at 2011-12 prices in the fourth quarter (Q4) of financial year 2017-18 registered growth rate of 7.7 per cent as against 5.6 per cent , 6.3 per cent and 7 per cent respectively, in the first three quarters, Q1, Q2 and Q3 of 2017-18. Rapid growth in agriculture (4.5 per cent), manufacturing (9.1 per cent) and construction sectors (11.5 per cent) contributed to the overall growth," the statement by Ministry of Statistics and Programme Implementation said.
 
The Indian economy's GDP growth is well above China’s pace of 6.8% for the quarter ending in March. That means India remains the fastest growing economy in the world. Check out key takeaways:
 
1. Quarterly Estimates (Q4, 2017-18)
 
GDP at 2011-12 prices in the fourth quarter (Q4) of financial year 2017-18 registered growth rate   of 7.7 per cent as against  5.6 percent , 6.3 percent and 7.0 percent respectively, in the first three quarters, Q1, Q2 and Q3 of 2017-18. Rapid growth in agriculture (4.5%), manufacturing (9.1%) and construction sectors (11.5%) contributed to the overall growth.
At the sectoral level, the growth rate of GVA at constant (2011-12) prices in Q4 of 2017-18 for agriculture & allied sectors, industry and services sectors are estimated at 4.5 per cent, 8.8 per cent, and 7.7 per cent respectively.
 
2. Gross National Income
 
The Gross National Income (GNI) at 2011-12 prices is now estimated at Rs 128.64 lakh crore during 2017-18, as against the previous year’s estimate of Rs 120.52 lakh crore. In terms of growth rates, the Gross National Income is estimated to have risen by 6.7 percent during 2017-18, in comparison to the growth rate of 7.1 percent in 2016-17.
 
3. Per Capita Income
 
The per capita income in real terms (at 2011-12 prices) during 2017-18 is estimated to have attained a level of Rs 86668 as compared to Rs 82229 for the year 2016-17. The growth rate in per capita income is estimated at 5.4 percent during 2017-18, as against 5.7 percent in the previous year.

4. Gross Domestic Product
 
Real GDP or GDP at constant (2011-12) prices for the year 2017-18 is now estimated at Rs 130.11 lakh crore showing a growth rate of 6.7 percent over First Revised Estimates of GDP for the year 2016-17 of Rs 121.96 lakh crore, released on 31st January, 2018.  
 
5. Gross Value Added (GVA) at Basic Prices
 
Real GVA, i.e, GVA at basic constant (2011-12) prices for the year 2017-18 is now estimated at Rs 119.76 lakh crores showing a growth rate of 6.5 percent over First Revised Estimates of GVA for the year 2016-17 of Rs 112.48 lakh crore, released on 31st January, 2018.
 
The sectors which registered growth rate of over 7.0 percent are 'public administration, defence and other services’ (10.0 percent), ‘ trade, hotels, transport, communication and services related to broadcasting’ (8.0 percent), ‘electricity, gas, water supply & other utility services  (7.2 percent)’. The growth in the ‘agriculture, forestry and fishing’, ‘mining & quarrying’, ‘manufacturing’, ‘construction’, and 'financial, real estate and professional services' is estimated to be 3.4 percent, 2.9 percent, 5.7 percent , 5.7 percent and 6.6 percent, respectively.
 
6. Agriculture
 
The ‘agriculture, forestry and fishing’ sector has shown a growth rate of 3.4 percent as against previous year’s growth rate of 6.3 per cent. The GVA estimates of this sector have been compiled using the Third Advance Estimates of crop production released by Ministry of Agriculture. The third advance estimates of food grain production was 279.51 million tonnes in 2017-18 which is higher than the second advance estimates of food grain production during 2017-18 of  277.49 million tonnes and final estimates of 275.11 million tonnes during the agricultural year 2016-17.
 
7. Mining and quarrying
 
The ‘mining and quarrying’ sector has shown a growth rate of 2.9 percent as against previous year’s growth rate of 13.0 per cent. The Index of Industrial Production of mining registered growth of 2.3 percent during 2017-18 as compared to 5.3 percent during 2016-17. Production of coal and crude oil registered growth rates of 2.5 percent and (-)0.9 percent during 2017-18. 
 
Further, growth in WPI of mineral oil, coal and crude petroleum and natural gas is estimated at 12.5, 8.9 and (-)0.3 percent respectively during 2017-18  as compared to (-)0.8,  2.3,  and (-)4.5 percent respectively during 2016-17.
 
8. Manufacturing
 
The growth in the ‘manufacturing’ sector is estimated at 5.7  percent as against previous year’s growth rate of 7.9 percent. The private corporate sector growth (which has a share of over 70 percent in the manufacturing sector) as estimated from available data of listed companies with BSE and NSE was 9.0 percent at current prices during 2017-18. The quasi corporate and unorganized segment (which includes individual proprietorship and partnerships and Khadi & Village Industries having a share of around 21 percent in the manufacturing sector) has been estimated using IIP of manufacturing. The IIP of manufacturing registered a growth rate of 4.5 percent during 2017-18.
 
9. Electricity, gas, water supply and other utility services
 
GVA at basic prices for 2017-18 from ‘Electricity, gas, water supply and other utility services’ sector is estimated at 7.2 percent as against previous year’s growth rate of 9.2 percent. The key indicator of this sector, namely, IIP of Electricity registered a growth rate of 5.4 percent during April-March, 2017-18.
 
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10. Financial,  real estate and professional services
 
The sector 'financial, real estate and professional services' has shown a growth rate of 6.6 percent as against previous year’s growth rate of 6.0 percent. Major component of this industry is the real estate and professional services which has a share of 72.0 percent. The key indicators of banking, namely, aggregate bank deposits and bank credits have shown growth of 6.7 percent and 10.3 percent, respectively, as on 31st March, 2018.