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Real GDP for 2019-20 estimated at 5.0 percent

By The Machinist Team,

Added 08 January 2020

As compared to the growth rate of 6.8 percent in 2018-19.

ease-of-doing-business

GVA at Basic Prices for 2019-20 from ‘Manufacturing’ sector is estimated to grow by 2.0 percent as compared to growth of 6.9 percent in 2018-19.

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the First Advance Estimates of National Income at both Constant (2011-12) and Current Prices, for the financial year 2019-20 along with the corresponding estimates of expenditure components of the Gross Domestic Product (GDP).
Real GDP or GDP at Constant Prices (2011-12) in the year 2019-20 is likely to attain a level of ₹147.79 lakh crore, as against the Provisional Estimate of GDP for the year 2018-19 of ₹140.78 lakh crore, released on 31st May 2019. The growth in real GDP during 2019-20 is estimated at 5.0 percent as compared to the growth rate of 6.8 percent in 2018-19.
Real GVA at Basic Prices is estimated to increase from ₹129.07 lakh crore in 2018-19 to ₹135.40 lakh crore in 2019-20. Estimated growth of real GVA in 2019-20 is 4.9 percent as against 6.6 percent in 2018-19.
The sectors which registered growth rate of over 4.9 percent 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 percent, 5.9 percent, 6.4 percent, 9.1 percent respectively. The growth in the ‘Agriculture, Forestry and Fishing’, ‘Mining and Quarrying’, ‘Manufacturing’ and ‘Construction’ is estimated to be 2.8 percent, 1.5 percent, 2.0 percent and 3.2 percent respectively.

Manufacturing
GVA at Basic Prices for 2019-20 from ‘Manufacturing’ sector is estimated to grow by 2.0 percent as compared to growth of 6.9 percent in 2018-19.  The Private Corporate sector growth in the Manufacturing sector for 2019-20 is estimated using latest available information on major Listed Companies during first half of financial year 2019-20. The Private Corporate sector growth (which has a share of over 75 percent in the Manufacturing sector) was estimated from available data of Listed Companies with BSE and NSE. The Quasi - Corporate and Unorganized segment (which has a share of over 20 percent in the Manufacturing sector) has been estimated using IIP of Manufacturing which registered a growth of 0.6 percent during April-October, 2019-20.
END

The growth in the ‘Agriculture, Forestry and Fishing’, ‘Mining and Quarrying’, ‘Manufacturing’ and ‘Construction’ is estimated to be 2.8 percent, 1.5 percent, 2.0 percent and 3.2 percent respectively.

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