Indian economy grew at 7.1% in 2016-17, Q4 GDP growth at 6.1%

New Delhi: India's gross domestic product during the past fiscal grew at a lower rate of 7.1 per cent, the official statistician said on Wednesday. "Real GDP at constant (2011-12) prices for the year 2016-17 is estimated at Rs 121.90 lakh crore showing a growth rate of 7.1 percent over the year 2015-16 of Rs 113.81 lakh crore," the Central Statistics Office said in a statement. In terms of gross value added (GVA), which excludes indirect taxes, the growth came in even lower at 6.6 percent over the GVA for 2015-16. The GDP growth for the fourth quarter of last fiscal also fell more sharply to 6.1 per cent.