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India's per capita income in real terms likely to be up Rs 96563 in current fiscal

 

By TIOL News Service

NEW DELHI, JAN 08, 2020: AS per the National Statistical Office (NSO), Real GDP or GDP at Constant Prices (2011-12) in the year 2019-20 is likely to attain a level of Rs 147.79 lakh crore, as against the Provisional Estimate of GDP for the year 2018-19 of Rs 140.78 lakh crore, released on May 31, 2019. The growth in real GDP during 2019-20 is estimated at 5.0 per cent as compared to the growth rate of 6.8 per cent in 2018-19.
 
Real GVA at Basic Prices is estimated to increase from 129.07 lakh crore in 2018-19 to Rs 135.40 lakh crore in 2019-20. Estimated growth of real GVA in 2019-20 is 4.9 per cent as against 6.6 per cent in 2018-19.

The sectors which registered growth rate of over 4.9 per cent are, 'Electricity, Gas, Water Supply and Other Utility Services’, 'Trade, Hotels, Transport, Communication and Services related to Broadcasting’, 'Financial, Real Estate and Professional Services’ and 'Public Administration, Defence and Other Services’ at 5.4 per cent, 5.9 per cent, 6.4 per cent, 9.1 per cent respectively. The growth in the 'Agriculture, Forestry and Fishing’, 'Mining and Quarrying’, 'Manufacturing’ and 'Construction’ is estimated to be 2.8 per cent, 1.5 per cent, 2.0 per cent and 3.2 per cent respectively.
 
The Per Capita Income in real terms (at 2011-12 prices) during 2019-20 is likely to attain a level of Rs 96,563 as compared to Rs 92,565 for the year 2018-19. The growth rate in Per Capita Income is estimated at 4.3 per cent during 2019-20, as against 5.6 per cent in the previous year.

Gross Domestic Product

GDP is derived by adding Taxes on Products net of Subsidies on Products to GVA at Basic Prices. GDP at Current Prices in the year 2019-20 is likely to attain a level of Rs 204.42 lakh crore, as against Rs 190.10 lakh crore in 2018-19 showing a growth rate of 7.5 per cent.
 
National Income

The nominal Net National Income (NNI), also known as National Income (at Current Prices) is likely to be Rs 181.10 lakh crore during 2019-20, as against Rs 168.37 lakh crore for the year 2018-19. In terms of growth rates, the National Income registered a growth rate of 7.6 per cent in 2019-20 as against the previous year’s growth rate of 11.3 per cent.
 
Per Capita Income

The Per Capita Net National Income during 2019-20 is estimated to be Rs 1,35,050 showing a rise of 6.8 per cent as compared to Rs 1,26,406 during 2018-19 with the growth rate of 10.0 per cent.
 
ANNUAL ESTIMATES OF FINAL EXPENDITURES OF GDP, 2019-20

Along with the First Advance Estimates of GVA at Basic Prices by economic activity, the First Advance Estimates of Expenditures of the GDP at Current and Constant (2011-12) Prices are also released. These estimates have been compiled using the data from the same sources as those used for compiling GVA estimates by economic activity, detailed data available on Merchandise Trade in respect of Imports and Exports, Balance of Payments, and Expenditure of Central and State Governments.  As various components of Expenditure on Gross Domestic Product, namely, Consumption Expenditure and Capital Formation, are normally measured at Market Prices, the discussion in the following paragraphs is in terms of Market Prices only.


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