Indian gov't revises GDP growth rate for 2017-18 to 7.2 percent

Source: Xinhua | 2019-02-01

The Indian government on Thursday said its estimate for economic growth rate for financial year 2017-18 stood at 7.2 percent, instead of 6.7 percent announced earlier.
Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 showed growth of 7.2 percent during 2017-18 and 8.2 percent during 2016-17, according to figures released by India's Central Statistics Office (CSO).
Earlier, the CSO in its advance estimate had pegged the GDP growth rate for 2018-19 (the current financial year) at 7.2 percent.
"The First Revised Estimates for 2017-18 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31 May, 2018," the statement issued by CSO said.