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Advance Estimates of GDP of 2020-21  released by National Statistics Office The National Statistics Office (NSO), India released the first Advance Estimates (AE) of GDP for the year 2020-21. The real GDP at 2011-12 prices in 2020-21 has been estimated to contract by 7.7 per cent and nominal GDP at current prices by 4.2 per cent.   As per quarterly estimates of NSO, real GDP contracted by 15.7 percent in first half of 2020-21. Real GDP on a quarter-on-quarter basis grew at 21 percent from Q1: FY 2020-21 to Q2: FY 2020-21. The AE of 2020-21reflects continued resurgence in economic activity in Q3 and Q4, which would enable the Indian economy to end the year with a contraction of 7.7 percent.   The continuous quarter-on-quarter growth endorses the strength of economic fundamentals of the country to sustain a post-lockdown V-shaped recovery. On the demand side, real GDP in 2020-21 has been supported by an estimated increase in Government Consumption Expenditure by 5.8 percent....

The next ICP comparison will be Conducted for reference year 2021 Purchasing Power Parities and the size of Indian Economy: Results from the 2017 International Comparison Program The World Bank has released new Purchasing Power Parities (PPPs) for reference year 2017, under International Comparison Program (ICP), that adjust for differences in the cost of living across economies of the World. Globally 176 economies participated in 2017 cycle of ICP. The International Comparison Program (ICP) is the largest worldwide data-collection initiative, under the guidance of UN Statistical Commission (UNSC), with the goal of producing Purchasing Power Parities (PPPs) which are vital for converting measures of economic activities to be comparable across economies. Along with the PPPs, the ICP also produces Price Level Indices (PLI) and other regionally comparable aggregates of GDP expenditure. India has participated in almost all ICP rounds since its inception in 1970. The ...

Trend to remain fastest growing over next few years! The Economic Advisory Council to the Prime Minister (EAC-PM) had a meeting on 25th January, 2019 and took stock of the state of the economy. The Council endorsed that the macro-economic fundamentals of the economy are sound, but challenged remain, several of which are structural in nature. While the prospects for world economic growth does not look very promising, particularly in the advanced economics, there is sufficient amount of growth momentum in emerging market economies. India is not insulted from global developments. Nevertheless, India’s growth is expected to be in the 7-7.5% range in the next few years; one of the fastest in the world. However, with reforms designed to address the structural problems, growth rates can easily be enhanced by at least 1%. Amongst the issues discussed by the EAC-PM were agricultural problem, investment trends (including investments by States consequent to 14th Finance Commis...

India to maintain a high growth rate in the current global environment! The Second Quarter Data for the GDP growth for the Financial 2018-19 has been released & in the context the Ministry of Finance makes the Statement that, the Second Quarter has seen a reasonable overall GDP growth of 7.1%.   The H-1 2018-19 growth of the GDP is 7.6% and the H-1 GVA growth is 7.4%.  The growth in the Second Quarter is on higher base compared to the growth of the First Quarter.   The Manufacturing Growth on a base of 7.1% in Q2 2017-18 has been 7.4% in Q2 2018-19.  The Construction Sector has grown by 7.8%.  The Gross Fixed Capital Formation as a ratio of GDP has increased by almost 1.3 percentage points over Q2 of last year.   The exports for Q-2 have grown by 13.4%.   The Government consumption for the Quarter has also significantly increased by 12.7%.   This Quarter also faced the challenge of higher oil prices resultin...

GDP Q2 a positive signs for India’s Economic prospects in the coming quarters The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation released the estimates of Gross Domestic Product (GDP) for the second quarter (July-September) Q2 of 2018-19. As per the CSO, growth rate estimates of GDP at Constant Prices for July-September 2018 stand at 7.1%.   These estimates represent a sizable jump from last year’s Q2 growth rate estimates of 6.3%, indicating sustained acceleration in India’s economic growth. The CSO estimates state that GDP at constant prices was Rs. 33.98 lakh crores for Q2, 2018-19, which is a marked increase from of Rs31.72 lakh crores and Rs29.79 lakh crores for the same period in 2017-18 and 2016-17, respectively. Welcoming this development, Dr Bibek Debroy, Chairman of the Economic Advisory Council to Prime Minister (EAC-PM) attributed this positive trend to government’s successful policy efforts in maintaining a stab...

India’s growth trajectory Latest GDP Estimates reflect superior acceleration in India’s growth trajectory says Chairman, EAC-PM. The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation released the estimates of Gross Domestic Product (GDP) for the first quarter (April- June) Q1 of 2018-19. As per the CSO, GDP growth rate estimates for April-June 2018 stand at 8.2%. These estimates represent a significant jump from last year’s Q1 growth rate estimates of 5.6%, indicating superior acceleration in India’s growth trajectory. This also validates that the economic fundamentals remain robust. The CSO estimates state that GDP at constant prices was Rs. 33.74 crores for Q1, 2018-19, a rise from of Rs. 31.18 lakh crores and Rs. 29.42 lakh crores for the same period in 2017-18 and 2016-17, respectively. Welcoming this development, Dr. Bibek Debroy, Chairman of the Economic Advisory Council to Prime Minister (EAC-PM) attributed this positive trend t...

CSO estimates of India GDP Q1 The   Central Statistics Office (CSO), Ministry of   Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter (April-June) Q1, of 2018-19, both at constant (2011-12) and current prices, along with the corresponding quarterly estimates of expenditure components of the GDP. GDP at constant (2011-12) prices in Q1 of 2018-19 is estimated at Rs33.74 lakh crore, as against Rs31.18 lakh crore in Q1 of 2017-18, showing a growth rate of 8.2 percent.   Quarterly GVA at basic price at constant (2011-2012) prices for Q1 of 2018-19 is estimated at Rs31.63 lakh crore, as against Rs29.29 lakh crore in Q1 of 2017-18, showing a growth rate of 8.0 percent over the corresponding quarter of previous year. The economic activities which registered growth of over 7 percent in Q1 of 2018-19 over Q1 of 2017-18 are manufacturing, electricity, gas, water supply & other utility service...

India GDP grows 8.2% in Q1 The Central Statistics Office released the estimates of GDP for the first quarter (Q1) of 2018-19.  In line with momentum built in the economy, the growth of GDP in real terms in Q1 of 2018-19 is 8.2 per cent, reinforcing the high growth of 7.7 per cent recorded in last quarter of 2017-18. This growth is broad-based and has been driven by 8.4 per cent growth in consumption expenditure and 10.0 per cent growth in fixed investment. The latter development is particularly encouraging as it has come about over an impressive growth of 14.4 per cent in Q4 of 2017-18 and augurs well for future growth. A look at the GVA in different sector points towards the fact that the growth of agriculture sector in Q1 of 2018-19 was robust at 5.3 per cent on top of 4.5 per cent growth in Q4 of the previous financial year. The growth of manufacturing sector GVA picked up significantly to 13.5 per cent in Q1 of 2018-19, as against negative growth of 1.8 per cent...