CSO releases provisional estimates of national income for the financial year 2013-14

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, released the provisional estimates of national income for the financial year 2013-14 and the quarterly estimates of Gross Domestic Product (GDP) for the fourth quarter (January-March) of 2013-14, both at constant (2004-05) and current prices.It also released corresponding annual and quarterly estimates of Expenditure components of the GDP in current and constant (2004-05) prices, namely the private final consumption expenditure, government final consumption expenditure, gross fixed capital formation, change in stocks, valuables, and net exports.
GDP growth rates for 2013-14 and Q1,Q2,Q3 and Q4 of 2013-14 at constant (2004-05) and current prices are given below:

Provisional Estimates of the National Income 2013-14:
On February 7, 2014, the advance estimates of national income for the year 2013-14 were released . They have now been revised including now the latest estimates of agricultural production, index of industrial production and performance of key sectors like, railways, transport other than railways, communication, banking, insurance and government expenditure.
Estimates at constant (2004-05) prices:

• GDP at factor cost at constant (2004-05) prices in the year 2013-14 is now estimated at Rs 57.42 lakh crore (as against  Rs 57.49 lakh crore estimated earlier on February 7, 2014), showing a growth rate of 4.7% (as against 4.9%t estimated earlier) over the First Revised Estimates of GDP for the year 2012-13 of Rs 54.82 lakh crore, released on January 31, 2014. 
• Gross National Income (GNI) at factor cost at 2004-05 prices is now estimated at Rs 56.74 lakh crore (as compared to Rs 56.81 lakh crore estimated on February 7, 2014), during 2013-14, as against the previous year’s First Revised Estimate of Rs 54.17 lakh crore.
• In terms of growth rates, the GNI is estimated to have risen by 4.7% during 2013-14, in comparison to the growth rate of 4.1 % in 2012-13.
• Per capita net national income in real terms (at 2004-05 prices) during 2013-14 is estimated to have attained a level of Rs 39,904 (as against Rs 39,961 estimated on February 7, 2014), as compared to the First Revised Estimates for the year 2012-13 of Rs 38,856. The growth rate in per capita income is estimated at 2.7% during 2013-14 as against 2.1% during 2012-13.

Estimates at current prices:

• GDP at factor cost at current prices in the year 2013-14 is estimated at Rs 104.73 lakh crore, showing a growth rate of 11.5% over the First Revised Estimates of GDP for the year 2012-13 of Rs 93.89 lakh crore, released on January 31, 2014.
• Gross National Income (GNI) at factor cost at current prices is now estimated at Rs 103.45 lakh crore during 2013-14, as compared to Rs 92.72 lakh crore during 2012-13, showing a rise of 11.6%.
• Per capita income at current prices during 2013-14 is estimated to have attained a level of Rs 74,380 as compared to the First Revised Estimates for the year 2012-13 of Rs 67,839 showing a rise of 9.6%.

Month: Current Affairs - June, 2014