New Delhi: In the first quarter of the year 2017-18, the rate of gross domestic product (GDP) has dropped significantly. Due to the effects of slowdown and remover in the manufacturing sector, the rate of GDP has dropped to 5.7% in the first quarter (April to June) of 2017-18. This is at the lowest level of the last three years. In the earlier quarter, the rate of GDP was 6.1 percent. Let me tell you that in the first quarter of 2016-17, the GDP rate was 7.9%.
According to the data released by the Central Statistical Office (CSO), the gross domestic product (GDP) growth in the first quarter of the current fiscal stood at Rs 31.10 lakh crore with an increase of 5.7 per cent, compared to 6.1 per cent during the fourth quarter of the previous fiscal.
If we compare the GDP growth rate from the same quarter a year ago, then there has been a significant decline in it. During the first quarter of the fiscal year 2016-17, the GDP growth was 7.9 percent.