The First Revised Estimates of National Income, Saving, and Capital Formation, Consumption Expenditure for the financial year 2019-20 has been released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation. The Second Revised Estimates for FY2018-19 and Third Revised Estimates for FY2017-18 (with Base Year 2011-12) have also been released.
Key Points
- GDP at current prices or Nominal GDP for the year 2019-20 is projected at Rs 203.51 lakh crore as compared to Rs188.87 lakh crore for 2018-19. This shows a growth of 7.8% during 2019-20 against 10.5% during 2018-19.
- GDP at constant (2011-12) prices or Real GDP for 2019-20 and 2018-19 stands at Rs 145.69 lakh crore and Rs 140.03 lakh crore, respectively. This shows an increase of 4% in 2019-20.
- The key revisions in the GDP growth rate for the year 2019-20 have been in growth rates for the construction and manufacturing sectors. GDP growth rates for the primary, secondary, and tertiary sectors have been estimated as 3.35, (-)1.1%, and 7.2% in comparison to the growth rate of 2.2%, 5.8%, and 7.2%, respectively, last year.
- At the aggregate level, nominal Gross Value Added (GVA) at basic prices has grown by 7.6% during 2019-20 in comparison to 10.7% during 2018-19.
- Real GVA (GVA at constant (2011-12) basic prices) has been a growth of 4.1% in 2019-20 in comparison to 5.9% in 2018-19.
- Net National Income (NNI) at current prices or Nominal NNI for 2019-20 stands at Rs179.94 lakh crore as compared to Rs167.05 lakh crore in the year 2018-19. This shows a growth of 7.7% during 2019-20 in comparison to a 10.3% increase in the previous year.
- Gross National Disposable Income (GNDI) at current prices or Real GNDI is estimated at Rs206.98 lakh crore for 2019-20, while at Rs191.78 lakh crore for the year 2018-19. This shows a growth of 7.9% for 2019-20 in comparison to 10.8% growth in 2018-19.
Now, Second Advance Estimates for 2020-21, along with quarterly estimates will be released on February 26, 2021. Provisional Estimates for 2020-21, along with estimates for all four quarters will be released on May 31, 2021.