GDP growth estimated at 5% for 2019-20: First Advance Estimates

GDP at Current Prices is estimated to show growth rate of 7.5% in 2019-20

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the First Advance Estimates of National Income for 2019-20 forecasting real GDP growth at 5.0% for 2019-20 as compared to the growth rate of 6.8% in 2018-19. Real GVA growth is estimated 4.9% in 2019-20 as against 6.6% in 2018-19.

The sectors which registered growth rate of over 4.9% are, 'electricity, gas, water supply and other utility services', 'trade, hotels, transport, communication and services related to broadcasting', 'financial, real estate and professional services' and 'public administration, defence and other services' at 5.4%, 5.9%, 6.4%, 9.1% respectively. The growth in the 'agriculture, forestry and fishing', 'mining and quarrying', 'manufacturing' and 'construction' is estimated to be 2.8%, 1.5%, 2.0% and 3.2% respectively.

GDP at Current Prices is estimated to show growth rate of 7.5% in 2019-20.

The National Income is expected to register a growth rate of 7.6% in 2019-20 as against the previous year's growth rate of 11.3%.

The Per Capita Net National Income is estimated to be Rs 1,35,050 in 2019-20 showing a rise of 6.8% as compared to Rs 1,26,406 during 2018-19 with the growth rate of 10.0%.

In terms of GDP, the rates of Private Final Consumption Expenditure (PFCE) at Current and Constant (2011-12) Prices during 2019-20 are estimated at 60.2% and 57.4%, respectively, as against the corresponding rates of 59.4% and 56.9%, respectively in 2018-19.

The rates of Government Final Consumption Expenditure (GFCE) at current and constant (2011-12) prices during 2019-20 are estimated at 11.9% and 11.3%, respectively, as against the corresponding rates of 11.2% and 10.7%, respectively in 2018-19.

The rates of Gross Fixed Capital Formation (GFCF) at Current and Constant (2011-12) prices during 2019-20 are estimated at 28.1% and 31.1%, respectively, as against the corresponding rates of 29.3% and 32.3%, respectively in 2018-19.

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