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July 01, 2016

During June 2016, eight core infrastructure industries grew by 5.2 per cent, as compared to 2.8 per cent growth in May 2016 and 3.1 per cent growth in June 2015. The growth of core industries during April-June 2016 was 5.4 per cent, as compared to 2.5 per cent growth during the same period last year.

Overall growth in the Index of Industrial Production (IIP) was 2.1 per cent in June 2016, as compared with 1.2 per cent growth in May 2016 and 4.2 per cent growth in June 2015. During April-June 2016, IIP growth was 0.6 per cent as compared to growth of 3.3 per cent during the same period last year.

Foreign exchange reserves were US$ 365.5 billion as on July 29, 2016, as against US$ 360.2 billion in March 2016.

Broad money supply (M3) increased 10.4 per cent on year-on-year basis as on July 22, 2016, compared to 11.1 per cent in in the corresponding period a year ago.

Wholesale Price Inflation (WPI) in July 2016 increased to 3.5 per cent from 1.6 per cent in June 2016. Consumer Price Inflation (CPI) as per new series (combined) remained increased to 6.1 per cent in July 2016 from 5.8 per cent recorded in June 2016.

Gross tax revenue collection for April-June 2016 increased by 30.6 per cent to Rs 280,853 crore (US$ 41.93 billion) over the collection during the same period last year.

As per the advance estimates of Gross Domestic Product (GDP) released by the Central Statistics Office (CSO) on May 31, 2016, the growth rate of GDP at constant (2011-12) market prices for FY 2015-16 is estimated at 7.6 per cent as compared to the growth of 7.2 per cent in FY 2014-15. GDP growth rate in the fourth quarter (January-March) of FY 2015-16 is estimated at 7.9 per cent as compared to 6.7 per cent in the corresponding quarter of FY 2014-15. Growth during the third quarter (Q3) of FY 2015-16 is estimated at 7.2 per cent as compared to the growth of 7.6 per cent in second quarter (Q2) of FY 2015-16, and 7.5 per cent in first quarter (Q1) of FY 2015-16.

The growth of Gross Value Added (GVA) at constant (2011-12) basic prices for agriculture and allied sectors, industry sector and services sector are estimated at 1.2 per cent, 7.4 per cent and 8.9 per cent respectively for the year 2015-16 as compared to the corresponding rates of -0.2 per cent, 5.9 per cent and 10.3 per cent respectively in the year 2014-15.


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