CSO has revised the gross domestic product (GDP) growth rate for 2015-16 to 8.2% from the earlier estimates of 8% and kept the 2016-17 growth unchanged at 7.1% . The Central Statistics Office is a governmental agency in India under the

BANKING GENERAL KNOWLEDGE

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A	Ministry of Commerce and Industry
B	Ministry of Statistics and Programme Implementation
C	Ministry of Finance
D	Ministry of Communication and Information Technology

Explanation:

Detailed explanation-1: -Real GDP increased 1.6 percent in 2016 (that is, from the 2015 annual level to the 2016 annual level), compared with an increase of 2.6 percent in 2015 (table 1). Revisions to 2016 real GDP from the advance estimate did not affect the 1.6 percent rate of increase.

Detailed explanation-2: -In other words, the nominal GDP in 2016 is 102.7 percent of what it was in 2015. That’s a growth rate of 2.7 percent.

Detailed explanation-3: -Gross Domestic Product GDP at current prices for the year 2015-16 is estimated at ‘135.76 lakh crore, showing a growth rate of 8.7 percent over the First Revised Estimates of GDP for the year 2014-15 of ‘124.88 lakh crore, released on 29th January 2016.

Detailed explanation-4: -While the industrial sector is now estimated to have grown at 8.2% against the earlier estimation of 7.4%, the services sector is estimated to have grown at 9.9% against 8.9% earlier. The farm sector growth rate was, however, cut to 0.76% from 1.2% estimated earlier.

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