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 theestimates 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 ` 13,06,276crore, as against `12,38,738 crore in Q1 of 2011-12, showing a growth rate of 5.5 per cent over the corresponding quarter ofprevious 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 June2012) 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, manufacturingand electricity, registered growth rates of (-)
1.1 per cent, (-)
0.7 per cent and 6.4 per cent, respectively during Q1 of2012-13, 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 of2011-12.
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 andpassenger kilometres have shown growth rates of
1.2 per cent and 6.9 per cent, respectively
during Q1 of 2012-13. Inthe 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 2.6per cent respectively during Q1 of 2012-13 over Q1 of 2011-12. The other key indicators, namely, aggregate bankdeposits 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 ` 19,19,286crore 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, electricityand 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 Q1of 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 capitalformation, are normally measured at market prices. The aggregates presented in the following paragraphs, therefore, are interms 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 of2012-13 as against ` 11,38,337 crore in Q1 of 2011-12. At constant (2004-05) prices, the PFCE is estimated at ` 8,15,319crore 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 atcurrent 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 of2012-13 as against ` 2,24,124 crore in Q1 of 2011-12. At constant (2004-2005) prices, the GFCE is estimated at ` 1,51,747crore 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 atcurrent 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 asagainst ` 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 of2012-13 as against ` 4,46,754 crore in Q1 of 2011-12. In terms of GDP at market prices, the rates of GFCF at current andconstant (2004-2005) prices during Q1 of 2012-13 are estimated at 29.9 per cent and 32.8 per cent, respectively, asagainst the corresponding rates of 31.2 per cent and 33.9 per cent, respectively in Q1 of 2011-12.