Highlights of Advanced Estimates of National Income-2017-18


Highlights of Advanced Estimates of National Income-2017-18

 

I. The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the First Advance estimates of national income at constant (2011-12) and current prices, for the financial year 2017-18. 

II.    The First Advance Estimates of GDP have been released in accordance with the release calendar of National Accounts@.

III. With the introduction of Goods and Services Tax (GST) from 1st July 2017 and consequent changes in the tax structure, the total tax revenue used for GDP compilation include non-GST revenue and GST revenue.

IV. For the year 2017-18, the Budget estimates of tax revenue as provided by Controller General of Accounts (CGA) has been used for estimating taxes on products at current prices. 

 

V.  Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2017-18is likely to attain a level of `129.85 lakh crore, as against the Provisional Estimate of GDP for the year 2016-17 of ` 121.90 lakh crore, released on 31st May 2017. The growth in GDP during 2017-18 is estimated at 6.5percent as compared to the growth rate of 7.1per cent in 2016-17.

 

VI.  Real GVA, i.e, GVA at basic constant prices (2011-12) is anticipated to increase from `111.85 lakh crore in 2016-17 to `118.71 lakh crore in 2017-18. Anticipated growth of real GVA at basic prices in 2017-18 is 6.1percent asagainst 6.6percent in 2016-17.

 

VII. The ‘agriculture, forestry and fishing’ sector is likely to show a growth of 2.1 per cent in its GVA during 2017-18, as against the previous year’s growth rate of 4.9percent.

 

VIII. GVA at basic prices for 2017-18 from ‘mining and quarrying’ sector is estimated to grow by 2.9percent as compared to growth of 1.8 percent in 2016-17. 

IX.  GVA at basic prices for 2017-18 from ‘manufacturing’ sector is estimated to grow by 4.6

percent as compared to growth of 7.9percent in 2016-17.  

 X. The per capita income in real terms (at 2011-12 prices) during 2017-18 is likely to attain a level of `86660 as compared to `82269 for the year 2016-17. The growth rate in per capita income is estimated at 5.3 per cent during 2017-18, as against5.7per cent in the previous year.

 XI. GDP at current prices in the year 2017-18 is likely to attain a level of `166.28 lakh crore, as against `151.84 lakh crorein 2016-17showing a growth rate of 9.5 per cent.

 

XII The nominal Net National Income (NNI), also known as national income (at current prices) is likely to be `147.11 lakh crore during 2017-18, as against `134.08 lakh crore for the year 2016-17. In terms of growth rates, the national income registered a growth rate of 9.7 per cent in 2017-18 as against the previous year’s growth rate of 11.0 per cent.

 XIII. The per capita net national income during 2017-18 is estimated to be `111,782 showing a rise of 8.3 per cent as compared to `103,219 during 2016-17 with the growth rate of 9.7percent.

Issued in Public Interest

 

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