The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the Second Advance estimates of national income at constant (2011-12) and current prices for the financial year 2017-18.
- GDP at constant (2011-12) prices in Q3 of 2017-18 is estimated at Rs 32.50 lakh crore, as against Rs. 30.32 lakh crore in Q3 of 2016-17, showing a growth rate of 7.2 percent. GDP growth rates for Q1 and Q2 of 2017-18 at constant prices are 5.7 percent and 6.5 percent respectively. Quarterly estimates for the years 2015-16, 2016-17, and 2017-18 are presented in Statements 5 to 8.
ESTIMATES AT CONSTANT (2011-12) PRICES
- Gross Domestic Product: Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2017-18 is likely to attain a level of t Rs.130.04 lakh crore, as against the First Revised Estimate of GDP for the year 2016-17 of t Rs. 121.96 lakh crore, released on 31st January 2018. The growth in GDP during 2017-18 is estimated at 6.6 percent as compared to the growth rate of 7.1 percent in 2016-17.
- Gross Value Added (GVA) at Basic Prices: Real GVA, i.e, GVA at basic constant prices (2011-12) is anticipated to increase from `112.48 lakh crore in 2016-17 to `119.64 lakh crore in 2017-18. Anticipated growth of real GVA at basic prices in 2017-18 is 6.4 percent as against 7.1 percent in 2016-17.
- Per Capita Income: The per capita income in real terms (at 2011-12 prices) during 2017-18 is likely to attain a level of Rs. 86,689 as compared to Rs. 82,229 for the year 2016-17. The growth rate in per capita income is estimated at 5.4 percent during 2017-18, as against 5.7 per cent in the previous year.
ESTIMATES AT CURRENT PRICES
- Gross Domestic Product: GDP is derived by adding taxes on products net of subsidies on products to GVA at basic prices. GDP at current prices in the year 2017-18 is likely to attain a level of Rs.167.52 lakh crore, as against Rs. 152.54 lakh crore in 2016-17 showing a growth rate of 9.8 percent.
- National Income: The nominal Net National Income (NNI), also known as national income (at current prices) is likely to be Rs. 148.40 lakh crore during 2017-18, as against Rs. 134.93 lakh crore for the year 2016-17. In terms of growth rates, the net national income registered a growth rate of 10.0 percent in 2017-18 as against the previous year’s growth rate of 11.0 percent.
- Per Capita Income: The per capita net national income during 2017-18 is estimated to be `112,764 showing a rise of 8.6 percent as compared to Rs. 1,03,870 during 2016-17.
- Gross Fixed Capital Formation: Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs. 47.73 lakh crore in 2017-18 as against Rs. 43.52 lakh crore in 2016-17. At constant (2011-12) prices, the GFCF is estimated at Rs. 40.87 lakh crore in 2017-18 as against Rs. 37.98 lakh crore in 2016-17. In terms of GDP, the rates of GFCF at current and constant (2011-12) prices during 2017-18 are estimated at 28.5 percent and 31.4 percent, respectively, as against the corresponding rates of 28.5 percent and 31.1 percent, respectively in 2016-17. The GFCF is expected to register growth rate of 9.7 percent at current prices and 7.6 percent at constant prices during 2017-18.
