The Central Statistics Office (CSO) released estimates of GDP and related parameters for Second Quarter of 2015-16 today. The Finance Ministry analysed the data and made its observation that the GDP growth rate in the second quarter of the current Financial Year 2015-16 is greater than the growth in the First Quarter. GDP growth (measured in terms of constant 2011-12 market prices) for Second Quarter (Q2) of 2015-16 is estimated to be 7.4 per cent. The GDP growth has picked-up from 7.0 per cent in Q1 of 2015-16.
The Finance Ministry further observed that the growth is being mainly driven by pick-up in the manufacturing sector, which has grown by 9.3 per cent in the Second Quarter. Similarly, the Fixed Investment is showing a sign of revival as it has grown by 6.8 per cent in the Second Quarter of current Financial Year 2015-16. Further, the Service Sector growth is still robust at 8.8 per cent in Q2 of 2015-16, with the trade and transport services leading the way. Overall, the Ministry is expecting the economy to grow in the vicinity of 7.5 per cent in FY 2015-16.
Economy is expected to grow in the vicinity of 7.5%
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Recent News :
- RBI Clarifies No Change in Cheque Books from 1st January 2027
- RBI Releases 2025-26 Census on Foreign Liabilities and Assets
- SEBI Implements New Settlement Regulations 2026: Check Application Process, Fees and Deadlines
- ICAI Releases Updated Handbook on Liability to Pay in Certain Cases under GST
- SEBI Revises Accredited Investor Rules: 3-Year Validity, New Verification Process
- Finance Ministry Orders Provisional Assessment of Alloy Steel Chisels and Rock Breakers Exported from Malaysia
- ICAI President Highlights India's Global Tax Vision, GST Reforms and Professional Opportunities
- CBDT Notifies Form No. 1(N) for TDS Exemption on Dividend Payments Between Aircraft Leasing Units in IFSC
- MCA Notifies Overseas Listing Amendment Rules 2026
- GSTN Revises E-Way Bill Number Format to 14 Digits from 1st January 2027
Popular News
- GST Portal e-Invoice Services to Remain Temporarily Unavailable on 31st Oct and 1st Nov 2026
- GST Registration Cancellation Process Revised: New REG-16 Approval Rules Explained
- Supriya Sule Urges FM Sitharaman to Extend TDS, TCS and GST Compliance Deadlines During Diwali 2026
- CBDT Notifies New Rules for Merger of Registered Non-Profit Organisations Under Income Tax Rules 2026
- CBIC Issues New GST Instructions: No Arrests, E-Way Bill Checks Restricted, Rs 10,000 SCN Limit
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
