GDP growth slows down to 7.1%; lowest in 6 qtrs

New Delhi, Aug 31 (PTI) Indian economy grew at the slowestpace in last six quarters at 7.1 per cent in the April-Juneperiod of current fiscal mainly on subdued performance ofmining, construction and farm sectors. GDP had recorded 7.5 per cent growth in the April-Junequarter of last fiscal and 7.9 per cent in January-Marchquarter. The previous low was 6.6 per cent GDP growth in theOctober-December quarter of the 2014-15 fiscal. According to the data released by the Central StatisticsOffice (CSO), the Gross Value Added (GVA), which is estimatedat the base price, showed a growth of 7.3 per cent in thefirst quarter of 2016-17. The Gross Domestic Product (GDP) growth data is calculatedunder the new methodology at market price, while GVA iscalculated primarily at factor cost. GDP is GVA plus taxes onproducts minus subsidies on them. The economic activities which registered growth of over 7per cent in the April-June quarter, over year-ago period, aremanufacturing; electricity, gas, water supply & other utilityservices; trade, hotels, transport & communication andservices related to broadcasting; financial, insurance, realestate and professional services and public administration,defence and other services. Growth in agriculture; forestry and fishing; mining &quarrying and construction is estimated to be 1.8 per cent,(-) 0.4 per cent, and 1.5 per cent respectively. MORE PTI KKSCSSA