This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e.

30th November 2016.

PRESS NOTE
ON
ESTIMATES OF
GROSS DOMESTIC PRODUCT
FOR THE SECOND QUARTER
(JULY-SEPTEMBER) OF 2016-17

CENTRAL STATISTICS OFFICE

MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION

GOVERNMENT OF INDIA

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This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 30th November 2016.

GOVERNMENTOFINDIA
MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION
Dated the 9 Agrahayana, 1938 Saka
30thNovember, 2016
PRESS NOTE
ESTIMATES OF GROSS DOMESTIC PRODUCT
FOR THE SECOND QUARTER (JULY-SEPTEMBER) OF 2016-17
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation
has released the estimates of Gross Domestic Product (GDP) for the second quarter (JulySeptember) Q2 of 2016-17, both at constant (2011-12) and current prices, alongwith the
corresponding quarterly estimates of expenditure components of the GDP.
2.

The details of the estimates GDP for Q2 of 2016-17 are presented below.
I.

ESTIMATES OF GVA BY ECONOMIC ACTIVITY

(a) At constant(2011-2012)prices
3.
GDP at constant (2011-12) prices in Q2 of 2016-17 is estimated at ` 29.63 lakh crore,
as against `27.62 lakh crore in Q2 of 2015-16, showing a growth rate of 7.3 percent.
Quarterly GVA at Basic Price at constant (2011-12) prices for Q2 of 2016-17 is estimated at
`27.33 lakh crore, as against `25.52 lakh crore in Q2 of 2015-16, showing a growth rate of
7.1 per cent over the corresponding quarter of previous year.
4.
The economic activities which registered growth of over 7.0 percent in Q2 of 201617 over Q2 of 2015-16 are Public administration, defence & other services, 'financial,
insurance, real estate and professional services', manufacturing and trade, hotels and
transport & communication and services related to broadcasting. The growth in the
agriculture, forestry and fishing, mining and quarrying, electricity, gas, water supply &
other utility services, and construction is estimated to be 3.3 per cent, (-)1.5 percent,
3.5 per cent and 3.5 per cent respectively, during this period.
5. Industry analysis
The second quarter estimates are based on agricultural production during Kharif
season of 2016-17 obtained from the Ministry of Agriculture, Department of Agriculture &
Cooperation(DAC), abridged financial results of listed companies from BSE/NSE, Index
of Industrial Production (IIP), monthly accounts of Union Government Expenditure
maintained by Controller General of Accounts (CGA) and of State Government expenditure
maintained by Comptroller and Auditor General of India (CAG) for the period JulySeptember 2016. Performance of key indicators of sectors like transport including railways,
road, air and water transport etc., communication, banking and insurance during the period
July-September 2016 have been taken into account while compiling the estimates.
Performance of the corporate sector during July-September 2016 based on data received
from BSE/NSE have been taken into account. Estimated growth in the indicator compiled

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on the basis of employee expenses, Profit before tax and depreciation of listed companies
deflated by appropriate price indices has been used to extrapolate the corporate sector
estimates of the same quarter of the previous year.
Agriculture, forestry and fishing
5.1
Quarterly GVA at basic prices for Q2 of 2016-17 from agriculture, forestry and
fishing sector grew by 3.3 percent as compared to growth of 2.0 percent in Q2 2015-16.
According to the information furnished by the Department of Agriculture and
Cooperation (DAC), which has been used in compiling the estimate of GVA from
agriculture in Q2 of 2016-17, the production of food grains during the Kharif season of
agriculture year 2016-17 was 8.9 percent as compared to decline of 3.2 percent during the
same period in 2015-16. Around 51.0 percent of GVA of this sector is based on the
livestock products, forestry and fisheries, which registered a combined growth of around 3.6
percent in Q2 of 2016-17.
Mining and quarrying
5.2.
Quarterly GVA at basic prices for Q2 of 2016-17 from mining and quarrying
sector declined by (-) 1.5 percent as compared to growth of 5.0 percent in Q2 of 2015-16.
As per the available information, private corporate sector growth in the mining sector as
estimated for major listed companies at current prices is (-)1.1 percent in Q2 of 2016-17.
The key indicators of mining sector, namely, production of coal, crude oil , natural gas and
IIP mining registered growth rates of -3.5 per cent, -3.3 percent, -2.8 percent and -2.7
percent respectively during Q2 of 2016-17 as compared to 0.9 percent, 1.7 percent, 0.03
percent and 3.1 percent respectively in Q2 of 2015-16.
Manufacturing
5.3
Quarterly GVA at basic prices for Q2 of 2016-17 from manufacturing sector grew
by 7.1 percent as compared to growth of 9.2 percent in Q2 of 2015-16. The private
corporate sector growth (which has a share of over 70 percent in the manufacturing sector)
as estimated from available data of listed companies with BSE and NSE is 11.9 percent at
current prices during Q2 of 2016-17. The growth in quasi - corporate and unorganized
segment (which includes individual proprietorships and partnerships and khadi & village
Industries has a share of around 22 percent in the manufacturing sector) has been estimated
using IIP of manufacturing. IIP manufacturing registered growth rate of (-) 0.9 percent
during Q2 of 2016-17 as compared to 4.7 percent in Q2 of 2015-16.
Electricity, Gas, water supply and other utility services
5.4
Quarterly GVA at basic prices for Q2 of 2016-17 from Electricity, Gas, water
supply and other utility services sector grew by 3.5 percent as compared to growth of 7.5
percent in Q2 of 2015-16. The key indicator of this sector, namely, IIP of Electricity
registered growth rate of 1.4 percent during Q2 of 2016-17 as compared to 6.8 percent in
Q2 of 2015-16.

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Construction
5.5
Quarterly GVA at basic prices for Q2 of 2016-17 from Construction sector grew
by 3.5 percent as compared to growth of 0.8 percent in Q2 of 2015-16. Key indicators of
construction sector, namely, production of cement and consumption of finished steel
registered growth rates of 3.3 percent and 4.8 percent respectively during Q2 of 2016-17.
Trade, hotels and Transport & communication and services related to broadcasting
5.6.
Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew by 7.1
percent as compared to growth of 6.7 percent in Q2 of 2015-16. Key indicator used for
estimating GVA from Trade sector is the sales tax growth. As per the available monthly
data on state accounts available from CAG website, sales tax collection grew by 13.1
percent during Q2 of 2016-17. Among the other services sectors, the key indicators of
railways, namely, the net tonne kilometres and passenger kilometres have shown growth
rate of (-) 8.1 per cent and 0.4 percent respectively during Q2 of 2016-17. In case of other
transport sectors, passengers handled by the civil aviation, cargo handled by the civil
aviation and cargo handled at major ports registered growth rates of 21.1 percent, 8.1
percent and 4.1 percent, respectively, during Q2 of 2016-17.
Financial, insurance, real estate and professional services
5.7
Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew 8.2 percent
as compared to growth of 11.9 percent in Q2 of 2015-16. Major component of this
industry is the real estate and professional services which has a share of 76 percent. The
key indicators of this sector are the quarterly growth of corporate sector for real estate
sector and computer related activities which as estimated from available data from listed
companies at current prices are (-)2.0 percent and 7.8 percent, respectively, during Q2 of
2016-17. The other indicators of this sector, viz., aggregate bank deposits and bank credits
have shown growth rates of 11.3 per cent, and 10.4 per cent, respectively as on September
2016 as against growth of 10.6 percent and 9.1 percent respectively as on September
2015.
Public administration and defence and other services
5.8
Quarterly GVA at basic prices for Q2 of 2016-17 from this sector grew by 12.5
percent as compared to growth of 6.9 percent in Q2 of 2015-16. The key indicator of this
sector namely, Union Government expenditure, net of interest payments and subsidies, grew
by 20.8 percent during Q2 of 2016-17 as compared to 1.1 percent in Q2 of 2015-16.
(b) At current prices
6.
GDP is derived by adding taxes on products, net of subsidies on products, to GVA at
basic prices. Growth in collection of Union Excise duties, customs duties and service tax
was 40.7 percent, (-)5.2 percent and 19.2 percent respectively in Q2 of 2016-17. GDP at
current prices in Q2 of 2016-17 is estimated at `36.43 lakh crore, as against `32.49 lakh
crore in Q2 of 2015-16, showing a growth rate of 12.1 percent. GVA at basic price at
current prices in Q2 of 2016-17, is estimated at `33.42 lakh crore, as against `30.02 lakh
crore in Q2 of 2015-16, showing an increase of 11.3 per cent.

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(c) Price indices used as deflators

7.
The wholesale price index (WPI), in respect of the groups - food articles, minerals,
manufactured products and all commodities, has registered a growth of 9.0 per cent, (-)10.2
percent, 2.3 per cent, and 3.7 percent respectively whereas electricity declined by 2.8
percent during Q2 of 2016-17 over Q2 of 2015-16. The consumer price index has shown a
rise of 5.2 per cent during Q2 of 2016-17 over Q2 of 2015-16.
II. ESTIMATES OF EXPENDITURES ON GDP
8.
The components of expenditure on gross domestic product, namely, consumption
expenditure and capital formation, are normally measured at market prices. The aggregates
presented in the following paragraphs, therefore, are in terms of market prices.
Private Final Consumption Expenditure
9.
Private Final Consumption Expenditure (PFCE) at current prices is estimated at
`21.78 lakh crore in Q2 of 2016-17 as against `19.37 lakh crore in Q2 of 2015-16. At
constant (2011-12) prices, the PFCE is estimated at `16.26 lakh crore in Q2 of 2016-17 as
against `15.11 lakh crore in Q2 of 2015-16. In terms of GDP, the rates of PFCE at current
and constant (2011-2012) prices during Q2 of 2016-17 are estimated at 59.8 per cent and
54.9 per cent, respectively, as against the corresponding rates of 59.6 per cent and 54.7 per
cent, respectively in Q2 of 2015-16. Growth rates of PFCE at current and constant prices are
estimated at 12.4 percent and 7.6 percent during Q2 of 2016-17 as compared to 9.5 percent
and 6.3 percent respectively during Q2 of 2015-16.
Government Final Consumption Expenditure
10.
Government Final Consumption Expenditure (GFCE) at current prices is estimated
at `5.15 lakh crore in Q2 of 2016-17 as against `4.27 lakh crore in Q2 of 2015-16. At
constant (2011-2012) prices, the GFCE is estimated at `3.84 lakh crore in Q2 of 2016-17
as against `3.33 lakh crore in Q2 of 2015-16. In terms of GDP, the rates of GFCE at
current and constant (2011-2012) prices during Q2 of 2016-17 are estimated at 14.1 per
cent and 13.0 per cent, respectively, as against the corresponding rate of 13.1 per cent and
12.1 percent each in Q2 of 2015-16. Growth rates of GFCE at current and constant prices
are estimated at 20.8 percent and 15.2 percent respectively during Q2 of 2016-17 as
compared to 5.8 percent and 3.3 percent respectively during Q2 of 2015-16.
Gross Fixed Capital Formation
11.
Gross Fixed Capital Formation (GFCF) at current prices is estimated at `9.86 lakh
crore in Q2 of 2016-17 as against `10.19 lakh crore in Q2 of 2015-16. At constant (20112012) prices, the GFCF is estimated at `8.58 lakh crore in Q2 of 2016-17 as against `9.09
lakh crore in Q2 of 2015-16. In terms of GDP, the rates of GFCF at current and constant
(2011-2012) prices during Q2 of 2016-17 are estimated at 27.1 per cent and 29.0 per cent,
respectively, as against the corresponding rates of 31.4 per cent and 32.9 per cent
respectively in Q2 of 2015-16. Growth rates of GFCF at current and constant prices are
estimated at (-) 3.2 percent and (-) 5.6 percent during Q2 of 2016-17 as compared to 7.5
percent and 9.7percent during Q2 of 2015-16.
12.
Estimates of GVA at basic price by kind of economic activity and the Expenditures
on GDP for Q2 and during April-September of 2014-15, 2015-16 and 2016-17 at constant
(2011-12) and current prices, are given in Statements 1 to 8.
13.
The next release of quarterly GDP estimate for the quarter October-December, 2016
(Q3 of 2016-17) will be on 28.02.2017.

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STATEMENT 1: QUARTERLY ESTIMATES OF GVA AT BASIC PRICES

IN Q2 (JULY-SEPTEMBER) OF 2016-17
(at 2011-12 prices)
(`in crore)

Percentage change
over previous year

GVA at Basic Price

2014-15
Industry

Q1
358482

1.agriculture,forestry&fishing

Q2
293560

Q1
367623

2016-17

Q2
299531

Q1
374390

2015-16

2016-17

Q2
309538

Q1
2.6

Q2
2.0

Q1
1.8

Q2
3.3

79708

60841

86444

63854

86091

62922

8.5

5.0

-0.4

-1.5

418682

414049

449280

452062

490164

484150

7.3

9.2

9.1

7.1

54853

54845

57037

58942

62378

60994

4.0

7.5

9.4

3.5

213576

209577

225637

211298

229092

218676

5.6

0.8

1.5

3.5

439474

439818

483238

469191

522610

502432

10.0

6.7

8.1

7.1

531933

584292

581471

653971

635963

707612

9.3

11.9

9.4

8.2

283826

321195

300705

343247

337630

386196

5.9

6.9

12.3

12.5

2380534

2378178

2551435

2552095

2738318

2732519

7.2

7.3

7.3

7.1

2.mining&quarrying
3.manufacturing
4.electricity,gas,watersupply
& other utility services
5.construction
6. trade, hotel, transport,
communication & services
related to broadcasting
7.financial, insurance, real
estate &professional services
8.Public administration,
defence& other services
GVA at Basic Price

2015-16

STATEMENT 2: QUARTERLY ESTIMATES OF EXPENDITURES OF GDP

IN Q2 (JULY-SEPTEMBER) OF 2016-17
(at 2011-12 prices)
(`in crore)
Expenditures of Gross Domestic Product

Item

2014-15

1. Private Final
Consumption
Expenditure (PFCE)
2. Government Final
Consumption
Expenditure (GFCE)
3. Gross Fixed Capital
Formation (GFCF)
4. Change in Stocks
5. Valuables
6. Exports
7. Less Imports
8. Discrepancies
GDP
GDP (Percentage change over
previous year)

2015-16

2016-17

RATES OF GDP AT
MARKET PRICES (%)
2015-16

2016-17

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

1406817

1422029

1504442

1511464

1605527

1625619

55.2

54.7

55.0

54.9

294338

322557

293720

333116

349059

383906

10.8

12.1

12.0

13.0

832420

828754

891627

909117

863956

858337

32.7

32.9

29.6

29.0

48976
42871
620869
661700
-49687
2534903

48434
38194
625875
681230
-36835
2567778

50754
43138
585324
645577
761
2724188

51068
42932
599264
677465
-7146
2762350

54345
22129
604052
607953
26232
2917348

53462
22756
601193
616498
34059
2962834

1.9
1.6
21.5
23.7
0.0
100.0

1.8
1.6
21.7
24.5
-0.3
100.0

1.9
0.8
20.7
20.8
0.9
100.0

1.8
0.8
20.3
20.8
1.1
100.0

7.5

7.6

7.1

7.3

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STATEMENT 3: QUARTERLY ESTIMATES OF GVA AT BASIC PRICES

IN Q2 (JULY-SEPTEMBER) OF 2016-17
(at current prices)
(`in crore)

Percentage change
over previous year

GVA at Basic Price

2014-15
Industry

1.agriculture,forestry&fishing
2.mining&quarrying
3.manufacturing
4.electricity,gas,watersupply
& other utility services
5.construction
6. trade, hotel, transport,
communication & services
related to broadcasting
7.financial, insurance, real
estate &
professional
services
8.Public administration,
defence& other services
GVA at Basic Price

2015-16

2016-17

2015-16

2016-17

Q1
440336
91393

Q2
381132
68668

Q1
466308
96870

Q2
387595
68781

Q1
504381
97614

Q2
431548
70200

Q1
5.9
6.0

Q2
1.7
0.2

Q1
8.2
0.8

Q2
11.3
2.1

463326

461155

494225

494597

545229

541919

6.7

7.3

10.3

9.6

72870

72802

77069

82772

85190

83298

5.8

13.7

10.5

0.6

251972

251830

260151

242294

267375

260097

3.2

-3.8

2.8

7.3

515657

525519

555922

536937

608714

594979

7.8

2.2

9.5

10.8

618229

692696

660964

740485

731238

830795

6.9

6.9

10.6

12.2

349424

405492

390350

448645

460094

529268

11.7

10.6

17.9

18.0

2803207

2859293

3001859

3002105

3299835

3342103

7.1

5.0

9.9

11.3

STATEMENT 4: QUARTERLY ESTIMATES OF EXPENDITURES OF GDP

IN Q2 (JULY-SEPTEMBER) OF 2016-17
(at current prices)
(`in crore)
Expenditures of Gross Domestic Product
2014-15
Item

1. Private Final
Consumption
Expenditure (PFCE)
2. Government
Final Consumption
Expenditure (GFCE)
3. Gross Fixed
Capital Formation
(GFCF)

2015-16

2016-17

RATES OF GDP AT MARKET

PRICES (%)
2015-16

2016-17

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q1

Q2

1701060

1768531

1898161

1936782

2119544

2177808

59.8

59.6

Q2

60.5

59.8

353530

403302

364372

426564

452915

515228

11.5

13.1

12.9

14.1

940407

948182

1004712

1019137

993514

986286

31.6

31.4

28.3

27.1

4.

Change in Stocks

55371

55112

58099

58142

64223

63767

1.8

1.8

1.8

1.8

5.

Valuables

47668

42468

46526

46304

24512

27236

1.5

1.4

0.7

0.7

6.

Exports

706261

726455

665872

681643

701942

709357

21.0

21.0

20.0

19.5

7.

Less Imports

799914

840101

759491

796865

732701

753834

23.9

24.5

20.9

20.7

8. Discrepancies
GDP
GDP (Percentage change

-87827

-50952

-103605

-123138

-118497

-82880

-3.3

-3.8

-3.4

-2.3

2916556

3052996

3174645

3248569

3505453

3642969

100.0

100.0

100.0

100.0

8.8

6.4

10.4

12.1

over previous year)

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STATEMENT 5: ESTIMATES OF GVA AT BASIC PRICES IN H1

(APRIL-SEPTEMBER) OF 2016-17
(at 2011-12 prices)
APRIL-SEPTEMBER (H1)
(`in crore)
Industry
1. agriculture, forestry & fishing
2.mining&quarrying
3.manufacturing
4.electricity,gas,watersupply &
other utility services
5.construction
6. trade, hotel, transport,
communication & services
related to broadcasting
7.financial, insurance, real estate
& professional services
8.Public administration, defence
& other services
GVA at Basic Price

GVA at Basic Price in H1

2014-15
2015-16
2016-17

Percentage change
Over previous year H1
2015-16
2016-17

652042
140549
832732

667154
150298
901342

683928
149013
974314

2.3
6.9
8.2

2.5
-0.9
8.1

109698

115979

123372

5.7

6.4

423152

436935

447767

3.3

2.5

879292

952429

1025042

8.3

7.6

1116225

1235442

1343575

10.7

8.8

605022

643951

723826

6.4

12.4

4758712

5103531

5470836

7.2

7.2

STATEMENT 6: ESTIMATES OF EXPENDITURES OF GDP IN H1

(APRIL-SEPTEMBER) OF 2016-17
(at 2011-12 prices)

Item

APRIL-SEPTEMBER (H1)
Rates of GDP at market prices
(`. in crore)
(%)
Expenditures of Gross Domestic
Product in H1
in H1
2014-15
2015-16
2016-17
2015-16
2016-17
2828846

3015906

3231147

55.0

54.9

616896

626837

732964

11.4

12.5

1661174

1800744

1722294

32.8

29.3

4. Change in Stocks

97409

101821

107807

1.9

1.8

5.
6.
7.
8.

81065

86070

44886

1.6

0.8

1246743

1184588

1205245

21.6

20.5

1342930

1323042

1224450

24.1

20.8

-86522

-6386

60290

-0.1

1.0

5486538

5880182

100.0

100.0

7.5

7.2

1. Private Final Consumption

Expenditure (PFCE)
2. Government Final
Consumption Expenditure
3. Gross Fixed Capital Formation
(GFCF)
Valuables
Exports
Less Imports
Discrepancies

GDP
GDP (Percentage change over
previous year)

5102681

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STATEMENT 7: ESTIMATES OF GVA AT BASIC PRICES IN H1

(APRIL-SEPTEMBER) OF 2016-17
(at current prices)
APRIL-SEPTEMBER (H1)
(` in crore)
Industry

GVA at Basic Price in H1

2014-15

1.agriculture,forestry&fishing
2.mining&quarrying
3.manufacturing
4.electricity,gas,watersupply &
other utility services
5.construction
6. trade, hotel, transport,
communication & services related
to broadcasting
7.financial, insurance, real estate &
professional services
8.Public administration, defence&
other services
GVA at Basic Price

2015-16

Percentage change
over previous year
H1

2016-17

2015-16

2016-17

821468

853903

935928

3.9

9.6

160061
924481
145672

165651
988822
159841

167814
1087147
168488

3.5
7.0
9.7

1.3
9.9
5.4

503802
1041175

502446
1092858

527472
1203693

-0.3
5.0

5.0
10.1

1310925

1401449

1562034

6.9

11.5

754916

838996

989362

11.1

17.9

5662500

6003965

6.0

10.6

6641938

STATEMENT 8: ESTIMATES OF EXPENDITURES OF GDP IN H1

(APRIL-SEPTEMBER) OF 2016-17
(at current prices)
APRIL-SEPTEMBER (H1)

Item

(` in crore)
Expenditures of Gross Domestic Product
in H1
2014-15

2015-16

2016-17

Rates of GDP at
market prices (%)
in H1
2015-16

2016-17

1. Private Final Consumption

Expenditure (PFCE)
2. Government Final Consumption
Expenditure

3469591

3834944

4297353

59.7

60.1

756832

790936

968143

12.3

13.5

3. Gross Fixed Capital Formation

(GFCF)
4. Change in Stocks
5. Valuables

1888589

2023848

1979801

31.5

27.7

6. Exports

110483
90135
1432716

116241
92829
1347514

127990
51748
1411299

1.8
1.4
21.0

1.8
0.7
19.7

7. Less Imports

1640015

1556357

1486535

24.2

20.8

8. Discrepancies

-138779

-226743

-201377

-3.5

-2.8

GDP

5969552

6423214

7148422

100.0

100.0

GDP (Percentage change over previous year)

H1: April- September

7.6

11.3