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Previous Date

 
Ministry of Statistics & Programme Implementation31-August, 2012 11:0 IST
Estimates of Gross Domestic Product for the First Quarter (April-June) of 2012-13

 

 

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  2012-13,  both  at  constant  (2004-05)  and  current  prices, alongwith the corresponding quarterly estimates of expenditure components of the GDP.

 

 

2.                 The details of the estimates are presented below.

 

 

I                   ESTIMATES OF GDP BY ECONOMIC ACTIVITY

(a)              At constant (2004-2005) prices

 

3.                 Quarterly GDP at factor cost at constant (2004-2005) prices for Q1 of 2012-13 is estimated at ` 13,06,276 crore, as against `12,38,738 crore in Q1 of 2011-12, showing a growth rate of 5.5 per cent over the corresponding quarter of previous year.

 

4.                The economic activities which registered significant growth in Q1 of 2012-13 over Q1 of  2011-12  are  ‘construction’ at 10.9  per cent,  ‘financing,  insurance,  real  estate  and business services’  at  10.8  per  cent  and ‘community,  social  and  personal services’ at 7.9 per cent.  The estimated growth rates in other economic activities are:  2.9  percent  in  agriculture,  forestry  &  fishing,  0.1  percent  in  mining  & quarrying’, 0.2  per  cent  in  manufacturing’,  6.3  percent  in  ‘electricity, gas and water supply’ and 4.0 percent in ‘trade,  hotels, transport  and  communication’ during this period.

 

 

5.                According  to  the  information  furnished  by  the  Department  of  Agriculture  and Cooperation  (DAC),  which  has  been  used  in  compiling  the  estimate  of  GDP  from agriculture  in Q1 of 2012-13,  the production of cereals recorded  growth  rate  of 3.5 per cent during  the  Rabi  season  of  agriculture year 2011-12 (which ended in June 2012) over the production in the corresponding season of previous agriculture year. The production of wheat increased by 8.1 per cent during  the  Rabi  season  of  agriculture year 2011-12, while rice registered a decline of 16.6 per cent. Among the commercial crops, the production of oilseeds declined by 12.6 per cent during the Rabi season of 2011-12, while production of cotton and sugarcane recorded growth rates of 6.7 per cent and 4.5 per cent, respectively during agricultural year 2011-12.

 

6.                According to the Index of Industrial Production (IIP) with 2004-05 base, the index of mining, manufacturing and electricity, registered growth rates of (-) 1.1 per cent, (-) 0.7 per cent and 6.4 per cent, respectively during Q1 of 2012-13, as compared to the growth rates of 0.6 per cent, 7.7 per cent and 8.3 per cent in these sectors during Q1 of 2011-12.

 

7.                The key indicators of construction sector, namely, production of cement increased by

11.0 per cent and consumption of finished steel registered growth rate of 8.8 per cent, during Q1 of 2012-13.

 

 

8.                Among the services sectors, the key indicators of railways, namely, the net tonne kilometres and passenger kilometres have shown growth rates of 1.2 per cent and 6.9 per cent, respectively during Q1 of 2012-13.  In the transport sector, the sales of commercial vehicles, cargo handled at major ports, cargo handled by the civil aviation, passengers handled by the civil aviation registered growth rates of 6.1 per cent, (-) 5.5 per cent, (-) 4.7 per cent and 2.6 per cent respectively during Q1 of 2012-13 over Q1 of 2011-12.  The other key indicators, namely, aggregate bank deposits and bank credits have shown growth rates of 15.9 per cent and 18.6 per cent, respectively as on June 2012.

 

 

(b)              At current prices

 

9.                GDP at factor cost at current prices in Q1 of 2012-13, is estimated at ` 21,78,778 crore, as against ` 19,19,286 crore in Q1, 2011-12, showing an increase of 13.5 per cent.

 

 

10.              The wholesale price index (WPI), in respect of the groups, food articles, manufactured products, electricity and all commodities, has risen by 10.8 per cent, 5.2 per cent, 4.0 per cent and 7.4 per cent, respectively during Q1 of 2012-13, over Q1 of 2011-12. The consumer price index for industrial workers (CPI-IW) has shown a rise of 10.1 per cent during Q1 of 2012-13 over Q1 of 2011-12.

 

 

II                ESTIMATES OF EXPENDITURES ON GDP

11.              The components of expenditure on gross domestic product, namely, consumption expenditure and capital formation, are normally measured at market prices.  The aggregates presented in the following paragraphs, therefore, are in terms of market prices.

 

 

Private Final Consumption Expenditure

12.              Private Final Consumption Expenditure (PFCE) at current prices is estimated at `12,81,799 crore in Q1 of 2012-13 as against ` 11,38,337 crore in Q1 of 2011-12.   At constant (2004-05) prices, the PFCE is estimated at ` 8,15,319 crore in Q1 of 2012-13 as against ` 7,84,113 crore in Q1 of 2011-12.  In terms of GDP at market prices, the rates of PFCE at current and constant (2004-2005) prices during Q1 of 2012-13 are estimated at 56.0 per cent and 59.5 per cent, respectively, as against the corresponding rates of 55.8 per cent and 59.5 per cent, respectively in Q1 of 2011-12.

 

 

 

 

 

 

Government Final Consumption Expenditure

13.              Government Final Consumption Expenditure (GFCE) at current prices is estimated at ` 2,67,337 crore in Q1 of 2012-13 as against ` 2,24,124 crore in Q1 of 2011-12. At constant (2004-2005) prices, the GFCE is estimated at ` 1,51,747 crore in Q1 of 2012-13 as against ` 1,39,179 crore in Q1 of 2011-12. In terms of GDP at market prices, the rates of GFCE at current and  constant  (2004-2005) prices during Q1 of 2012-13 are estimated at 11.7 per cent and 11.1 per cent, respectively, as against the corresponding rate of 11.0 per cent and 10.6 per cent, respectively in Q1 of 2011-12.

 

 

Gross Fixed Capital Formation

14.              Gross Fixed Capital Formation (GFCF) at current prices is estimated at ` 6,84,893 crore in Q1 of 2012-13 as against ` 6,36,371 crore in Q1 of 2011-12. At constant (2004-2005) prices, the GFCF is estimated at ` 4,49,701 crore in Q1 of 2012-13 as against ` 4,46,754 crore in Q1 of 2011-12. In terms of GDP at market prices, the rates of GFCF at current and constant (2004-2005) prices during Q1 of 2012-13 are estimated at 29.9 per cent and 32.8 per cent, respectively, as against the corresponding rates of 31.2 per cent and 33.9 per cent, respectively in Q1 of 2011-12.

 

 

15.              Estimates of GDP at factor cost by kind of economic activity and the Expenditures on GDP  for Q1 of 2010-11, 2011-12 and 2012-13 at constant (2004-2005) and current prices, are given in Statements 1 to 4.

 

Click here to see Statements

 

*****

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