The Second Quarter Data for the GDP growth for the Financial Year (FY) 2018-19 has been released.  The Ministry of Finance makes the following Statement in this regard.

The Second Quarter has seen a reasonable overall GDP growth of 7.1%.  The H-1 2018-19 growth of the GDP is 7.6% and the H-1 GVA growth is 7.4%.  The growth in the Second Quarter is on higher base compared to the growth of the First Quarter.

The Manufacturing Growth on a base of 7.1% in Q2 2017-18 has been 7.4% in Q2 2018-19.  The Construction Sector has grown by 7.8%.  The Gross Fixed Capital Formation as a ratio of GDP has increased by almost 1.3 percentage points over Q2 of last year.  The exports for Q-2 have grown by 13.4%.  The Government consumption for the Quarter has also significantly increased by 12.7%.  This Quarter also faced the challenge of higher oil prices resulting in much higher import bill and the weakening of the rupee.  The Indian Economy is on track to maintain a high growth rate in the current global environment, the Ministry concluded.

Economic growth trajectory sustained as GDP and demand indicators strengthen despite external oil and currency pressures. The Ministry reports Q2 FY2018-19 GDP growth of 7.1%, H 1 GDP and GVA growth of 7.6% and 7.4% respectively, with manufacturing and construction expansion, higher gross fixed capital formation as a share of GDP, and strong rises in exports and government consumption, while noting external pressures from higher oil prices and a weaker currency.