The growth in GDP during 2018-19 is estimated at 7.2% as compared to the growth rate of 6.7% in 2017-18, said the Government.
According to the first advance estimates of national income for the financial year 2018-19, released by Ministry of Statistics and Programme Implementation on Monday, the real GDP or Gross Domestic Product at Constant Prices (2011-12) in the year 2018-19 is likely to attain a level of Rs 39.52 lakh crore, as against the Provisional Estimate of GDP for the year 2017-18 of Rs 130.11 lakh crore, released on 31st May 2018.
GDP is derived by adding Taxes on Products net of Subsidies on Products to Gross Value Added (GVA) at Basic Prices.
The growth rate in Per Capita Income is also estimated at 6.1% during 2018-19, as against 5.4% in the previous year.
The nominal Net National Income (NNI), also known as National Income (at Current Prices) is likely to be Rs 167.03 lakh crore during 2018-19, as against Rs 148.49 lakh crore for the year 2017-18.
In terms of growth rates, the National Income is expected to register a growth rate of 12.5% in 2018-19 as against the previous year’s growth rate of 10.1%.
In December 2018, the Reserve Bank of India (RBI) had pegged India’s GDP growth rate for the financial year 2018-19 at 7.4% and 7.2% in H2.