Quick Estimates of National Income, Consumption Expenditure, Saving and Capital Formation, 2009-10
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the Quick estimates of national income, consumption expenditure, saving and capital formation for the financial year 2009-10. The estimates of GDP and other aggregates for the previous years have been revised on account of using the new series of Wholesale price Index (WPI) with base 2004-05 and also subsequent revision in Index of industrial production (IIP). The revision in estimates is also on account of use of latest available data on agricultural production, industrial production, government expenditure and also detailed and more comprehensive data available from various source agencies.
The salient features of the estimates, which are based on latest available information, are indicated below:
GROSS DOMESTIC PRODUCT AND GROSS NATIONAL INCOME
Gross domestic product (GDP) at factor cost at constant (2004-05) prices in 2009-10 is estimated at Rs. 44,93,743 crore as against Rs. 41,62,509 crore in 2008-09 registering a growth of 8.0 per cent during the year as against the growth rate of 6.8 per cent during the previous year. At current prices, GDP in 2009-10 is estimated at Rs. 61,33,230 crore as against Rs. 52,82,086 crore in 2008-09, showing an increase of 16.1 per cent during the year.
At constant (2004-05) prices the gross national income at factor cost in 2009-10 is estimated at Rs 44,64,854 crore as against Rs. 41,37,125 crore in 2008-09 showing a rise of 7.9 per cent during the year. At current prices, the gross national income in 2009-10 is estimated at Rs. 60,95,230 crore as compared to Rs 52,49,163 crore in 2008-09, showing a rise of 16.1 per cent during the year.
The growth rate of 8.0 per cent in the GDP during 2009-10 has been achieved due to high growth in transport, storage and communication (15.0%), community, social and personal services (11.8%), financing, insurance, real estate & business services (9.2%), and manufacturing (8.8%).
PER CAPITA NATIONAL INCOME
The per capita income (per capita net national income at factor cost) in real terms, i.e. at 2004-05 prices, is estimated at Rs. 33,731 for 2009-10 as against Rs. 31,801 in 2008-09, registering an increase of 6.1 per cent during the year. The per capita income at current prices is estimated at Rs. 46,492 in 2009-10 as against Rs. 40,605 for the previous year depicting a growth of 14.5 per cent.
CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION
In order to derive the GDP at market prices, the GDP at factor cost is adjusted by adding indirect taxes net of subsidies. 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.
PRIVATE FINAL CONSUMPTION EXPENDITURE
Private Final Consumption Expenditure (PFCE) in the domestic market at current prices is estimated at Rs. 37,95,901 crore in 2009-10 as against Rs. 32,66,461 crore in 2008-09. At constant (2004-05) prices, the PFCE is estimated at Rs. 28,57,060 crore in 2009-10 as against Rs. 26,59,152 crore in 2008-09. In terms of GDP at market prices, the rates of PFCE at current and constant (2004-05) prices during 2009-10 are estimated at 58.0 per cent and 58.7 per cent, respectively, as against the corresponding rates of 58.5 per cent and 59.6 per cent, respectively in 2008-09.
The per capita PFCE in the domestic market in 2009-10 is estimated to be Rs. 32,444 at current prices and Rs. 24,419 at constant (2004-05) prices as against Rs. 28,306 and Rs. 23,043 respectively in 2008-09.
DOMESTIC SAVING
Gross domestic saving (GDS) at current prices in 2009-10 is estimated at Rs. 22,07,423 crore as against Rs. 17,98,347 crore in 2008-09, constituting 33.7 per cent of GDP at market prices as against 32.2 per cent in the previous year. The increase in the rate of GDS has mainly been due to the increase in the rates of savings of public sector from 0.5 per cent in 2008-09 to 2.1 per cent in 2009-10 and private corporate sector from 7.9 per cent in 2008-09 to 8.1 per cent in 2009-10. In respect of household sector, the rate of saving has been decreased from 23.8 per cent to 23.5 per cent. In absolute terms, the saving of the household sector has increased from Rs. 13,31,033 crore in 2008-09 to Rs. 15,36,071 crore in 2009-10, the saving of private corporate sector has gone up from Rs. 4,38,376 crore in 2008-09 to Rs. 5,31,403 crore in 2009-10 and that of public sector has gone up from Rs. 28,938 crore in 2008-09 to Rs. 1,39,949 crore in 2009-10.
CAPITAL FORMATION
Gross Domestic Capital Formation at current prices has increased from Rs. 19,27,107 crore in 2008-09 to Rs. 23,89,213 crore in 2009-10 and at constant (2004-05) prices, it increased from Rs. 15,65,007 crore in 2008-09 to Rs. 18,58,659 crore in 2009-10. The rate of gross capital formation at current prices is 36.5 per cent in 2009-10 as against 34.5 per cent in 2008-09. The rate of gross capital formation at constant (2004-05) prices is 38.2 per cent in 2009-10 as against 35.1 per cent in 2008-09.
Within the gross capital formation at current prices, the gross fixed capital formation amounted to Rs. 20,16,186 crore in 2009-10 as against Rs. 17,88,803 crore in 2008-09. At current prices, the gross fixed capital formation of the public sector has increased from Rs. 4,78,707 crore in 2008-09 to Rs. 5,52,364 crore in 2009-10, that of private corporate sector from Rs.5,80,246 crore in 2008-09 to Rs. 7,08,769 crore in 2009-10, and the household sector from Rs. 7,29,850 crore in 2008-09 to Rs. 7,55,053 crore in 2009-10.
The change in stocks of inventories, measured as additions to stocks increased at current prices, from Rs. 1,12,519 crore in 2008-09 to Rs 2,14,619 crore in 2009-10. The increase is observed due to increase in private corporate and household sectors. In private corporate sector the change in stocks has increased from Rs. 60,953 crore to Rs. 1,55,874 crore and in household sector from Rs. 1,042 crore to Rs. 9,491 crore.
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the Quick estimates of national income, consumption expenditure, saving and capital formation for the financial year 2009-10. The estimates of GDP and other aggregates for the previous years have been revised on account of using the new series of Wholesale price Index (WPI) with base 2004-05 and also subsequent revision in Index of industrial production (IIP). The revision in estimates is also on account of use of latest available data on agricultural production, industrial production, government expenditure and also detailed and more comprehensive data available from various source agencies.
The salient features of the estimates, which are based on latest available information, are indicated below:
GROSS DOMESTIC PRODUCT AND GROSS NATIONAL INCOME
Gross domestic product (GDP) at factor cost at constant (2004-05) prices in 2009-10 is estimated at Rs. 44,93,743 crore as against Rs. 41,62,509 crore in 2008-09 registering a growth of 8.0 per cent during the year as against the growth rate of 6.8 per cent during the previous year. At current prices, GDP in 2009-10 is estimated at Rs. 61,33,230 crore as against Rs. 52,82,086 crore in 2008-09, showing an increase of 16.1 per cent during the year.
At constant (2004-05) prices the gross national income at factor cost in 2009-10 is estimated at Rs 44,64,854 crore as against Rs. 41,37,125 crore in 2008-09 showing a rise of 7.9 per cent during the year. At current prices, the gross national income in 2009-10 is estimated at Rs. 60,95,230 crore as compared to Rs 52,49,163 crore in 2008-09, showing a rise of 16.1 per cent during the year.
The growth rate of 8.0 per cent in the GDP during 2009-10 has been achieved due to high growth in transport, storage and communication (15.0%), community, social and personal services (11.8%), financing, insurance, real estate & business services (9.2%), and manufacturing (8.8%).
PER CAPITA NATIONAL INCOME
The per capita income (per capita net national income at factor cost) in real terms, i.e. at 2004-05 prices, is estimated at Rs. 33,731 for 2009-10 as against Rs. 31,801 in 2008-09, registering an increase of 6.1 per cent during the year. The per capita income at current prices is estimated at Rs. 46,492 in 2009-10 as against Rs. 40,605 for the previous year depicting a growth of 14.5 per cent.
CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION
In order to derive the GDP at market prices, the GDP at factor cost is adjusted by adding indirect taxes net of subsidies. 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.
PRIVATE FINAL CONSUMPTION EXPENDITURE
Private Final Consumption Expenditure (PFCE) in the domestic market at current prices is estimated at Rs. 37,95,901 crore in 2009-10 as against Rs. 32,66,461 crore in 2008-09. At constant (2004-05) prices, the PFCE is estimated at Rs. 28,57,060 crore in 2009-10 as against Rs. 26,59,152 crore in 2008-09. In terms of GDP at market prices, the rates of PFCE at current and constant (2004-05) prices during 2009-10 are estimated at 58.0 per cent and 58.7 per cent, respectively, as against the corresponding rates of 58.5 per cent and 59.6 per cent, respectively in 2008-09.
The per capita PFCE in the domestic market in 2009-10 is estimated to be Rs. 32,444 at current prices and Rs. 24,419 at constant (2004-05) prices as against Rs. 28,306 and Rs. 23,043 respectively in 2008-09.
DOMESTIC SAVING
Gross domestic saving (GDS) at current prices in 2009-10 is estimated at Rs. 22,07,423 crore as against Rs. 17,98,347 crore in 2008-09, constituting 33.7 per cent of GDP at market prices as against 32.2 per cent in the previous year. The increase in the rate of GDS has mainly been due to the increase in the rates of savings of public sector from 0.5 per cent in 2008-09 to 2.1 per cent in 2009-10 and private corporate sector from 7.9 per cent in 2008-09 to 8.1 per cent in 2009-10. In respect of household sector, the rate of saving has been decreased from 23.8 per cent to 23.5 per cent. In absolute terms, the saving of the household sector has increased from Rs. 13,31,033 crore in 2008-09 to Rs. 15,36,071 crore in 2009-10, the saving of private corporate sector has gone up from Rs. 4,38,376 crore in 2008-09 to Rs. 5,31,403 crore in 2009-10 and that of public sector has gone up from Rs. 28,938 crore in 2008-09 to Rs. 1,39,949 crore in 2009-10.
CAPITAL FORMATION
Gross Domestic Capital Formation at current prices has increased from Rs. 19,27,107 crore in 2008-09 to Rs. 23,89,213 crore in 2009-10 and at constant (2004-05) prices, it increased from Rs. 15,65,007 crore in 2008-09 to Rs. 18,58,659 crore in 2009-10. The rate of gross capital formation at current prices is 36.5 per cent in 2009-10 as against 34.5 per cent in 2008-09. The rate of gross capital formation at constant (2004-05) prices is 38.2 per cent in 2009-10 as against 35.1 per cent in 2008-09.
Within the gross capital formation at current prices, the gross fixed capital formation amounted to Rs. 20,16,186 crore in 2009-10 as against Rs. 17,88,803 crore in 2008-09. At current prices, the gross fixed capital formation of the public sector has increased from Rs. 4,78,707 crore in 2008-09 to Rs. 5,52,364 crore in 2009-10, that of private corporate sector from Rs.5,80,246 crore in 2008-09 to Rs. 7,08,769 crore in 2009-10, and the household sector from Rs. 7,29,850 crore in 2008-09 to Rs. 7,55,053 crore in 2009-10.
The change in stocks of inventories, measured as additions to stocks increased at current prices, from Rs. 1,12,519 crore in 2008-09 to Rs 2,14,619 crore in 2009-10. The increase is observed due to increase in private corporate and household sectors. In private corporate sector the change in stocks has increased from Rs. 60,953 crore to Rs. 1,55,874 crore and in household sector from Rs. 1,042 crore to Rs. 9,491 crore.
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