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Press Information Bureau
Government of India
Ministry of Commerce & Industry
03-January-2018 04:18IST
Impact of Demonetisation and GST on key Industrial Sectors

The growth of different sectors of an economy depends on a number of factors, including structural, external, fiscal and monetary factors (which is partly reflected by demonetisation). Therefore, it is not possible to pinpoint the impact of demonetization and GST on sectoral outputs.

  India’s Import and Export data (month-wise) for the Financial Years 2016-17 and 2017-18 along with growth rate is as under:

 

Month

Value of Import (in US $ Million)

Growth Rate (in %)

2017-18

2016-17

April

38209

25689

48.73

May

38317

28286

35.46

June

36983

30917

19.62

July

33986

29305

15.97

August

35561

29303

21.36

September

37628

31839

18.18

October

37117

34495

7.60

TOTAL

257800

209835

22.86

 

 

 

Month

Value of Export (in US $ Million)

Growth Rate (in %)

2017-18

2016-17

April

24592

20863

17.87

May

23969

22407

6.97

June

23108

22656

2.00

July

22382

21692

3.18

August

23517

21597

8.89

September

28732

22768

26.19

October

23050

23361

-1.33

TOTAL

169349

155344

9.02

Note: Figures pertaining to the current Financial Year 2017-18 are provisional.

Source: DGCI&S

 

The percentage growth of gross value added at constant basic prices for manufacturing and construction sectors of the economy up to second quarter (Q2) of 2017-18 compared to the corresponding period in the previous year are given in the table below.

 

Sectors

2015-16

2016-17

2016-17

2017-18

Q1

Q2

Q3

Q4

Q1

Q2

   Manufacturing

10.8

7.9

10.7

7.7

8.2

5.3

1.2

7.0

   Construction

5.0

1.7

3.1

4.3

3.4

-3.7

2.0

2.6

Note: As per estimates released by Central Statistics Office

 

            Details of revenue generated from central excise & customs duty during the last 12 months is as under:

Sl. No.

Month

Central Excise

(in Rs. Crore)

Customs Duty [On Export/ Import]

(in Rs. Crore)

1

December, 2016

33159

18820

2

January, 2017

34089

18974

3

February, 2017

31927

18797

4

March, 2017

35386

21665

5

April, 2017

31817

20764

6

May, 2017

34150

22051

7

June, 2017

25007

21147

8

*July, 2017

21150

30327

9

*August, 2017

18960

31535

10

*September, 2017

18191

31217

11

*October, 2017

17367

29536

12

*November, 2017

18127

28631

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note: * w.e.f  1st July, 2017 the CVD/SAD on Imports, Non-Petroleum component of Central Excise duty and complete Service Tax have been subsumed under GST. The Customs duty on Imports from July - November, 2017 are inclusive of IGST and GST Compensation Cess.

Source: Department of Revenue.

The Minister of State for Commerce and Industry Shri C.R.Chaudhary gave this information in a written reply to a question in Rajya Sabha today.

 

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NW