Government has marginally revised upwards GDP growth for 2015-16 to 7.9 per cent from the earlier estimate of 7.6 per cent.
This is after factoring in latest data on agriculture and industrial production.
Real GDP or GDP at constant (2011-12) prices for 2015-16 and 2014-15 stands at INR 113.58 lakh crore and INR 105.23 lakh crore, respectively.
This is showing growth of 7.9 per cent during 2015-16 and 7.2 per cent during 2014-15, stated the Central Statistics Office (CSO) while releasing the revised data today.
However, the figure for 2014-15 has remained unchanged at 7.2 per cent in the second revision of the national accounts for the fiscal.
The estimates of GDP and other aggregates for 2012-13 to 2014-15 have also undergone revision due to use of latest available data on agricultural production and industrial production.
In 2015, CSO had estimated GDP growth rate for 2015-16 and 2014-15 at 7.6 per cent and 7.2 per cent, respectively.
CSO said the Gross Value Added (GVA) at constant (2011-12) basic prices grew at 7.8 per cent in 2015-16 as against 6.9 per cent in 2014-15.
According to the revised numbers, growth in real GVA in 2015-16 has been higher than that of 2014-15, mainly due to stronger growth in:
- Agriculture, forestry and fishing (0.8 per cent),
- Manufacturing (10.6 per cent),
- Trade, repair, hotels and restaurants (11.6 per cent),
- Transport, storage, communication and services related to broadcasting (9.1 per cent)
- Real estate, ownership of dwelling and professional services (12.6 per cent).
In 2015-16, at constant prices, the growth of primary (agriculture, forestry, fishing and mining and quarrying) has been pegged at 2.6 percent.
The secondary (manufacturing, electricity, gas, water supply and other utility services and construction) and tertiary (services) sectors has been estimated at 7.8 per cent and 9.8 per cent as against a growth 6.1 per cent and 9.5 per cent, respectively, in the previous year.
Per capita net national income at current prices is estimated at Rs 86,513 and Rs 94,178, respectively, for 2014-15 and 2015-16.
Per capita PFCE (private final consumption expenditure) at current prices is estimated at Rs 57,402 and Rs 61,571 for 2014-15 and 2015-16, respectively.
CSO: Know More- The Central Statistics Organisation (CSO) of India is responsible for co-ordination of statistical activities in India.
- It also oversees evolving and maintaining statistical standards.
- It has a well-equipped Graphical Unit.
- The CSO is located in Delhi.
- Some portion of Industrial Statistics work pertaining to Annual Survey of industries is carried out in Calcutta.
Its activities:
- National Income Accounting
- Conduct of Annual Survey of Industries,
- Economic Censuses and its follow up surveys,
- Compilation of Index of Industrial Production, as well as Consumer Price Indices for Urban Non-Manual Employees,
- Human Development Statistics,
- Gender Statistics,
- Imparting training in Official Statistics,
- Five Year Plan work relating to Development of Statistics in the States and Union Territories; Dissemination of statistical information,
- Work relating to trade, energy, construction, and environment statistics,
- Revision of National Industrial Classification
