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 :
- CBDT Notifies SFT Rules for Depository Transactions Under Income Tax Act 2025
- CBDT Notifies SFT Reporting Rules for Mutual Fund Transactions by RTAs Under IT Act 2025
- CAs Under Tax Audit Pressure as Sept 30 Deadline Approaches: No CBDT Extension Yet
- Delhi High Court Mandates Biometric Aadhaar Authentication for All New GST Registrations
- Big Change for Banking Records: New Bankers' Books Evidence Act Takes Effect from 1st Oct 2026
- ICAI Handbook on NRI Residential Status: Key Tax & FEMA Rules Explained
- Congress Leader Alleges CAs Aid Tax Evasion, Sparks Debate Among Tax Professionals
- GST on Restaurant Bills: Chartered Accountant Explains How to Check GSTIN
- Income from Other Sources Under Income Tax Act 2025: Key Rules, Taxable Incomes and Deductions
- GSTN Enables Appeals for NIL or Zero Demand Orders on GST Portal
Popular News
- Maintenance of Books of Accounts Under Income Tax Act, 2025
- Income from House Property Under Income Tax Act 2025
- HUF Tax Rules 2026: New Tax Regime Slabs, Surcharge and Partition Provisions
- Doctor Pays Rs 58 Crore in Tax on Rs 149 Crore Income, Sparks Debate Over Taxpayer Value
- Income from Other Sources Under Income Tax Act 2025: Key Rules, Taxable Incomes and Deductions
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
