07 January 2017 Current Affairs: According to growth projection released by the Central Statistics Office (CSO), India’s Gross Domestic Product (GDP) growth is expected to grow at a slower pace at 7.1% in 2016-17 as compared to 7.6% in 2015-16. This estimate is in sync with the Reserve Bank of India’s (RBI) economic growth forecast and is largely based on data from the first seven months of the year. The slowdown is chiefly due to an industrial slowdown.
Per capita net national income during 2016-17: estimated to be Rs.1,03,007, rise of 10.4% as compared to Rs. 93,293 during 2015-16 with the growth rate of 7.4%.
Agriculture, forestry and fishing sector: likely to show a growth of 4.1% during 2016-17, as against the previous year’s growth rate of 1.2%.
Manufacturing sector: It is estimated to grow by 7.4% in 2016-17 as compared to growth of 9.3% in 2015-16.
Wholesale price index (WPI): food articles has risen by 6.9%, manufactured products 2.0%, and electricity -1.4% and all commodities 2.8% during April-November 2016-17 period.
Consumer price index: It has shown a rise of 5.0% during April-November 2016-17.