GVA at basic constant prices (2011-12) is anticipated to increase 7.0% in FY2017
As per the first advances estimates of Real GDP or Gross Domestic Product (GDP) released by the Central Statistics Office (CSO), the GDP growth at constant (2011-12) prices is estimated at 7.1% for FY2017, showing moderation from 7.6% in FY2016..Real GVA, i.e, GVA at basic constant prices (2011-12) is anticipated to increase 7.0% in FY2017 against 7.2% growth in FY2016.
The sectors which registered growth rate of over 7.0% are, 'public administration, defence and other services', 'financial, real estate and professional services' and 'manufacturing'. The growth in the 'agriculture, forestry and fishing', 'mining and quarrying', 'electricity, gas, water supply and other utility services', 'construction' and 'Trade, hotels, transport, communication and services related to broadcasting' is estimated to be 4.1%, (-) 1.8%, 6.5%, 2.9% and 6.0% respectively.
The per capita income in real terms (at 2011-12 prices) during FY2017 is likely to attain a level of Rs 81805 as compared to Rs 77,435 for the year FY2016. The growth rate in per capita income is estimated at 5.6% during FY2017, as against 6.2% in the previous year.
The per capita net national income during FY2017 is estimated to be Rs 103,007 showing a rise of 10.4% as compared to Rs 93,293 during FY2016 with the growth rate of 7.4%.
Private Final Consumption Expenditure (PFCE) at current prices is estimated at Rs 89.72 lakh crore in FY2017 as against Rs 80.78 lakh crore in FY2016. At constant (2011-12) prices, the PFCE is estimated at Rs 67.13 lakh crore in FY2017 as against Rs 63.01 lakh crore in FY2016. In terms of GDP, the rates of PFCE at current and constant (2011-12) prices during FY2017 are estimated at 59.1% and 55.2%, respectively, as against the corresponding rates of 59.5% and 55.5%, respectively in FY2016.
Government Final Consumption Expenditure (GFCE) at current prices is estimated at Rs 18.61 lakh crore in FY2017 as against Rs 14.39 lakh crore in FY2016. At constant (2011-12) prices, the GFCE is estimated at Rs 13.95 lakh crore in FY2017as against Rs 11.27 lakh crore in FY2016. In terms of GDP, the rates of GFCE at current and constant (2011-12) prices during FY2017 are estimated at 12.3% and 11.5%, respectively, as against the corresponding rates of 10.6% and 9.9%, respectively in FY2016.
Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs 40.39 lakh crore in FY2017 as against Rs 39.72 lakh crore in FY2016. At constant (2011-12) prices, the GFCF is estimated at Rs 35.35 lakh crore in FY2017 as against Rs 35.41 lakh crore in FY2016. In terms of GDP, the rates of GFCF at current and constant (2011-12) prices during FY2017 are estimated at 26.6% and 29.1%, respectively, as against the corresponding rates of 29.3% and 31.2%, respectively in FY2016. The GFCF is expected to register growth rate of 1.7% at current prices and (-) 0.2% at constant prices.
The next release of second advance estimates of national income for the year FY2017 and quarterly GDP estimate for the quarter April-December, 2016 (Q3 of FY2017) will be on 28 February 2016.
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