Per Capita Income (in Rs.) NATIONAL ACCOUNTS STATISTICS 218 Highlights 1. The Gross Domestic Product at constant (211-12) prices for the year 217-18 is estimated at ` 13.1 lakh crore, as against the estimate of ` 121.9 lakh crore for 216-17, indicating growth of 6.7 per cent during 217-18. At current prices, GDP for 217-18 is estimated to be ` 167.7 lakh crore as against the estimate of ` 152.5 lakh crore for 216-17, showing an increase of 1. per cent during the year. 2. The estimate of National Income (i.e. Net National Income) at constant (211-12) prices for 217-18 is ` 114.1 lakh crore, as against the estimate of ` 16.8 lakh crore for 216-17, suggesting a rise of 6.8 per cent during 217-18. At current prices, the National Income for 217-18 is estimated at ` 148.5 lakh crore as compared to the estimate of ` 134.9 lakh crore for 216-17, showing a rise of 1.1 per cent during the year. 3. The per capita real income, i.e. per capita net national income at constant (211-12) prices, for 217-18 is estimated at ` 86,668 as against the estimate of ` 82,229 for 216-17. This indicates a growth of per capita real income of about 5.4 per cent during 217-18. The per capita income at current prices during 217-18 is estimated at ` 1,12,835 as compared to ` 1,3,87 in 216-17 showing a rise of 8.6 per cent. 12 11 1 -wise Per Capita Income (in Rs.) 112835 1387 94731 9 8 7 63462 7983 65538 79118 68572 86647 7285 77826 82229 86668 Current Prices At 211-12 prices 6 211-12 212-13 213-14 214-15 215-16 216-17 217-18
Rs in lakh croe 4. In the year 216-17, the public sector, comprising general government (administrative departments and autonomous institutions of Government) and public corporations (departmental enterprises and nondepartmental enterprises) contributed 19.1 per cent in the total GVA. During the period, the household sector was the largest contributor, followed by private non-financial corporations with the share of 43.2 per cent and 34.9 per cent respectively in the total GVA. 5. Net lending/borrowing of the total economy and institutional sectors is depicted in the following graph. Institutional Sector-wise Net Lending/Borrowing 2. 15. Public NonFinancial Corporation 1. Public Financial Corporation 5.. -5. -1. -15. -3.8-4.8-1.8-1.6-1.4-1. General Government Private Non-Financial Corporation Private Financial Corporation Households Total Economy -2. 211-12 212-13 213-14 214-15 215-16 216-17 6. During 216-17, net borrowing of the total economy has reduced to ` 1. lakh crore as compared to ` 1.4 lakh crore in 215-16. The household sector and financial corporations are net lenders which finance the resource gap of general government and non-financial corporations. 7. At current prices, the share of primary and secondary sectors have gone down from 21.7 per cent and 29.3 per cent respectively in 211-12 to 2.4 per cent and 26.9 per cent respectively in 216-17. The share of tertiary sector has gone up from 49. per cent in 211-12 to 52.8 per cent in 216-17.
Percentage (%) Percentage (%) 8. The following charts depict the composition of GVA at current prices and growth rate of real GVA in terms of the share of different sectors of the economy: 1 9 8 7 6 5 4 3 2 1 Share in GVA at current prices (In %) 49. 52.5 52.8 29.3 27.4 26.9 21.7 2.1 2.4 211-12 215-16 216-17 Tertiary Secondary Primary Sectoral contribution (in %) in GVA Growth at constant (211-12) prices 9 8 8.1 7.1 7 6 4.3 5 3.8 Tertiary 4 Secondary 3 2.3 2. 2 Primary 1 1.5 1.3 Total GVA 215-16 216-17 9. During 216-17, real GVA has grown by 7.1 per cent as against a growth of 8.1 per cent during 215-16. The growth in real GVA during 216-17 has been lower than that in 215-16 mainly due to relatively lower growth in manufacturing (7.9%), construction (1.3%), trade, repair, hotels & restaurants (8.9%), and real estate, ownership of dwellings and professional services (8.%), financial services (1.3%), transport storage communication and services related to broadcasting (4.3%). 1. Performance of crop and livestock sectors: The crop output recorded an increase of 6.3 per cent in 216-17 while the livestock output has grown by 5.3 per cent during the same period. In 216-17, the production of rice has shown a growth of 5.5 per cent and wheat has shown an increase of 6.6 percent as against decline of -1. per cent and increase of 6.6 per cent respectively during the year 215-16. The overall production of food grains has increased by 9.6 per cent during 216-17 as compared to a decline of -.18 per cent during 215-16. 11. During the year 216-17, the percentage growth of different item group in WPI basket varied from -4.57 per cent to 7.1 per cent. The implicit price index in the current and constant-price estimates of Gross Domestic Product grew by 3.5 per cent in 216-17. 12. Major components of expenditure on GDP are final consumption expenditure and capital formation which are measured at market prices.
Percentage (%) Expenditure components contribution in real growth rate of GDP is also shown in the following chart: Expenditure components contribution in real GDP growth (in %) 1 8 6 5.5 6.4 7.4 8.2 7.1 Discrepancies Import of goods and services Export of goods and services 4 2.1.1.8.7 1.2 Valuables CIS GFCF -2-4 212-13 213-14 214-15 215-16 216-17 GFCE PFCE GDP at Constant Prices 13. The PFCE in domestic market at current prices works out to ` 9.5 lakh crore in 216-17 as against ` 81.4 lakh crore in 215-16. At constant (211-12) prices, the PFCE in domestic market works out to ` 68.6 lakh crore in 216-17 as against ` 63.9 lakh crore in 215-16. The per capita PFCE in the domestic market in 216-17 works out to ` 6975 at current prices and ` 52786 at constant (211-12) prices as against ` 63428 and 49833 respectively in 215-16. 14. Percentage share of item-groups in total PFCE for the years 211-12 and 216-17 at current prices is depicted in the following charts:
Percentage share of item-groups in total PFCE 211-12 food and non-alcoholic beverages alcoholic beverages, tobacco and narcotics 1. 3.7 2.4 12.8 2.3 15.1 3.4 clothing and footwear housing, water, electricity, gas and other fuels furnishings, household equipment and routine household maintenance health 3.7 3.2 16.4 6.3 2.8 transport communication recreation and culture education restaurants and hotels miscellaneous goods and services 216-17 food and non-alcoholic beverages alcoholic beverages, tobacco and narcotics 2..8 4.1 15.3 3. clothing and footwear housing, water, electricity, gas and other fuels 2.4 furnishings, household equipment and routine household maintenance 15. 6.4 health transport 4.5 2.9 14.4 2.2 communication recreation and culture education restaurants and hotels miscellaneous goods and services 15. Gross Saving at current prices during 216-17 is estimated at ` 45.7 lakh crore as against ` 43. lakh crore in 215-16, constituting 3. per cent of GDP as against 31.3 percent in the previous year. The decrease in the rate of Gross Saving has mainly been due to decrease in gross saving of Household sector from 19.5 percent to 17.9 percent to the total GVA at current prices. 16. Net Saving in 216-17 is recorded at ` 29.9 lakh crore as against ` 28.5 lakh crore in 215-16. It constitutes 21.9 per cent of NDP in 216-17 as against 23.2 per cent in 215-16.
Percentage(%) GROSS SAVING BY INSTITUTIONAL SECTORS (rate to GDP at market prices) 4 35 3 34.6 33.9 32.1 32.2 31.3 3. public non-financial corporations 25 2 15 1 5-5 23.6 22.5 2.3 19.6 9.7 1. 1.7 11.4 17.8 16.3 12.4 12.3 3.1 3. 2.6 2.7 2.1 2.2-1.8-1.6-1.5-1.4-1.1 -.7 211-12 212-13 213-14 214-15* 215-16# 216-17 public financial corporations general government households including NPISH Total SAVIVG 17. The Gross Capital Formation at current prices has increased from ` 44.4 lakh crore in 215-16 to ` 46.7 lakh crore in 216-17 and at constant (211-12) prices, it has increased from ` 39.2 lakh crore in 215-16 to ` 4.8 lakh crore in 216-17. The rate of Gross Capital Formation at current prices is 3.6 per cent in 216-17 as against 32.3 per cent in 215-16. The rate of capital formation in 216-17 was higher than the rate of saving because of net capital inflow from abroad. The rate of gross capital formation at constant (211-12) prices has decreased from 34.5 per cent in 215-16 to 33.5 per cent in 216-17. The rate of net capital formation at constant prices in 216-17 is 22.3 per cent as against 23.3 per cent in 215-16. 18. Within the Gross Capital Formation at current prices, the Gross Fixed Capital Formation (GFCF) amounted to ` 43.5 lakh crore in 216-17 as against ` 39.2 lakh crore in 215-16. At current prices, the Gross Fixed Capital Formation of the Non-Financial Corporations has increased from ` 21.2 lakh crore in 215-16 to ` 23.4 lakh crore in 216-17, that of Financial Corporations from `.54 lakh crore in 215-16 to `.49 lakh crore in 216-17 and of General Government from ` 4.9 lakh crore in 215-16 to ` 5.7 lakh crore in 216-17 whereas the GFCF of the Household sector increased from ` 12.6 lakh crore in 215-16 to ` 13.9 lakh crore in 216-17. 19. The change in stocks of inventories (CIS), at current prices, declined from ` 2.55 lakh crore in 215-16 to ` 1 lakh crore in 216-17. 2. Rate of Gross fixed capital formation to GDP for the years 211-12 and 216-17 at current prices is depicted in the following chart:
Percentage(%) GROSS FIXED CAPITAL FORMATION AT CURRENT PRICES (rate to GDP) 4 35 3 34.3 33.4 31.3 3.1 28.5 28.5 25 2 15 1 14.7 15.1 14.9 14.1 15.7 14.6 12.5 12.1 15.4 15.4 Non-financial corporations Financial Corporations General government Household sector Total Economy 5 9.1 9.1 3.5 3.4 3.5 3.5 3.6 3.8.4.3.4.3.4.3 211-12 212-13 213-14 214-15 215-16 216-17 21. Total GCF by industry of use increased by about 5.6 per cent in real terms during the year 216-17, owing to rise in agriculture, mining, manufacturing, transport, storage, communication & services related to broadcasting, public administration & defence and other services. 22. It is seen that there has been an increase of 77.2 per cent in current expenditure of government, whereas in capital expenditure, the increase has been 7.7 per cent during the period 211-12 to 216-17. *******