India’s GDP growth fell to 7.1% in 2016-17 from 8.2% in 2015-16

In line with the earlier official estimate of the country’s GDP growth in the last fiscal, India’s gross domestic product during 2016-17 grew at 7.1 per cent, Central Statistics Office (CSO) data showed on Wednesday.

According to the CSO’s first revised estimates of national income released on the eve of the Union BUdget for the next fiscal, growth last year came in lower than the 8.2 per cent rate for 2015-16.

In terms of Gross Value Added (GVA), which includes taxes while excluding subsidies, the revised estimates showed a lower growth at 7.1 per cent for 2016-17, also as compared to the 8.1 per cent real GVA growth registered for 2015-16.

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