07/01/2019 6:24 PM IST

Government Estimates GDP Growth At 7.2% For 2018-19

The Central Statistics Office said that that GDP will be a tad higher from the 6.7% in the previous fiscal because of improvements improvements in the agriculture and manufacturing sectors.

Mukesh Gupta / Reuters

NEW DELHI — The Indian economy is expected to grow at 7.2% in 2018-19, a tad higher from the 6.7% in the previous fiscal, mainly due to improvement in the performance of agriculture and manufacturing sectors, the Central Statistics Office said Monday.

Releasing the first advance estimates of National Income for 2018-19, the Central Statistics Office (CSO) said, “The growth in GDP during 2018-19 is estimated at 7.2% as compared to the growth rate of 6.7% in 2017-18.”

“Real GVA (Gross Value Added) is anticipated to grow at 7% in the current fiscal as against 6.5% in 2017-18,” it said.

According to the CSO data, the expansion in activities in ‘agriculture, forestry and fishing’ is likely to increase to 3.8% in the current fiscal from 3.4% in the preceding year.

The growth of manufacturing sector is expected to accelerate to 8.3% this fiscal, up from 5.7% in 2017-18.

The Gross Domestic Product (GDP) had expanded by 7.1% in 2016-17 and 8.2% in 2015-16.