GDP at 5.7% for the First quarter of 2017 -18 | Labour Law News

GDP at 5.7% for the First quarter of 2017 -18

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Statement on quarterly review of the trends in receipts and expenditure in relation to the budget

GDP First quarter of 2017 -18,Statement on quarterly review ,trends in receipts and expenditure in relation to the budget, Wholesale Price Index,WPI,FDI

During the first quarter (April-June) of 2017-18, the growth rate of GDP was 5.7 per cent as against 7.9 per cent in the corresponding quarter of 2016-17. The first quarter of 2017-18 witnessed a growth of 2.3 percent in agriculture and allied sectors, 1.6 per cent in the industry sector and 8.7 per cent in the services sector, as compared to 2.5 per cent, 7.4 per cent and 9.0 per cent respectively for these sectors in the first quarter of 2016-17.

Based on the Wholesale Price Index (WPI), the average inflation was 1.7 per cent in 2016-17 as compared to (-) 3.7 per cent in 2015-16. During the first quarter of 2017-18, the WPI inflation averaged 2.3 per cent (base 2011-12) as compared to (-) 0.7 per cent during the corresponding quarter of 2016-17. Inflation as per the Headline Consumer Price Index Combined (CPI-C) during the first quarter of 2017-18 averaged 2.2 percent, as compared to 5.7 per cent during the corresponding quarter of 2016-17.

The trade deficit (on customs basis) for 2016-17 was US$ 108.5 billion as against US$ 118.7 billion in

2015-16. During the first quarter of 2017-18, exports were US$ 72.2 billion, with imports amounting to US$ 112.1 billion, the trade deficit was US$ 39.9 billion. The corresponding figures were US$ 65.9 billion,US$ 84.9 billion and US$ 19.0 billion respectively in the first quarter of 2016-17.

During the first quarter of 2017-18, the net invisibles balance (invisible receipts minus invisible payments) was US$ 26.9 billion as compared to US$ 23.4 billion in the corresponding quarter of 2016-17. The current account deficit increased to US$ 14.3 billion in the first quarter of 2017-18, as compared to US$ 0.4 billion in the corresponding quarter of 2016-17. The current account deficit, expressed as a percentage of GDP,increased from 0.1 per cent in the first quarter of 2016-17 to 2.4 per cent in the first quarter of 2017-18.

The net capital inflows (including errors and omissions) were US$ 25.7 billion in the first quarter of

2017-18 as compared to US$ 7.4 billion in the corresponding quarter of 2016-17. Net Foreign Direct

Investment (FDI) flows were at US$ 7.2 billion during the first quarter of 2017-18 as against US$ 3.9

billion in the same quarter of 2016-17. Net portfolio flows stood at US$ 12.5 billion in the first quarter of 2017-18 vis-à-vis US$ 2.1 billion in the corresponding quarter of 2016-17.

India’s foreign exchange reserves increased to US$ 386.5 billion at end-June 2017 from a level of US$

370 billion at end-March 2017. The average exchange rate for the Rupee vis-à-vis the US dollar was

64.46 per US$ the first quarter of 2017-18 as compared to ` 66.89 per US dollar in the corresponding

quarter of the previous year. The annual average exchange rate of the Rupee was ` 67.07 per US dollar in 2016-17 as compared to ` 65.46 per US$ in 2015-16.

For detail information please click below

Q1-2017-18-English.pdf (51 downloads)

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