India's Second Quater GDP growth slows to 7.1%

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New Delhi (IANS) The pace of India's GDP (gross domestic product) growth slowed during the second quarter of 2018-19 to 7.1 percent from 8.2 percent in Q1, official data showed here on Friday.

According to the Central Statistics Office (CSO), the GDP at 2011-12 prices in the second quarter (Q2) of 2018-19 fell to 7.1 percent from 8.2 percent in Q1, 7.7 percent in Q4 of 2017-18 and 6.3 percent in the corresponding period of the previous fiscal.

"GDP at constant (2011-12) prices in Q2 of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore in Q2 of 2017-18," said the Q2 estimates released by the CSO.

"Quarterly GVA (Basic Price) at constant (2011-2012) prices for Q2 of 2018-19 is estimated at Rs 31.40 lakh crore, as against Rs 29.38 lakh crore in Q2 of 2017-18, showing a growth rate of 6.9 percent over the corresponding quarter of previous year."

The GVA includes taxes but excludes subsidies.

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