Skip to main content

Centre lowers GDP growth to 4.5 per cent for 2012-13

The revised estimate is the lowest in a decade

The government, on Friday, said the economy might have expanded by 4.5 per cent in 2012-13, compared with the earlier estimate of 5 per cent, on account of subdued performance in agriculture, mining and manufacturing.
However, gross domestic product (GDP) growth in 2011-12 has been revised upwards to 6.7 per cent from 6.2 per cent, according to the estimates of national income, consumption expenditure, saving and capital formation.
“Gross domestic product at factor cost at constant (2004-05) prices in 2012-13 is estimated at Rs.54.80 lakh crore as against Rs.52.50 lakh crore in 2011-12, registering a growth of 4.5 per cent during the year as against a growth of 6.7 per cent in the year 2011-12,” a press statement said.
Growth in 2012-13 is the lowest in a decade, with the previous low of 4 per cent recorded in 2002-03.
The estimates for 2012-13 were released by the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation, along with the second revised estimates for 2011-12 and third revised estimates for 2010-11.
Growth for 2010-11 was revised downwards to 8.9 per cent from 9.3 per cent earlier in the third and final revision.
Primary sector
According to the revised estimates for 2012-13, the primary sector, which includes agriculture, fishing, mining and quarrying, grew by one per cent against the earlier estimate of 1.6 per cent.
Growth in the secondary sector, including manufacturing, electricity, gas, water supply and construction, was 1.2 per cent, down from the original estimate of 2.3 per cent.
The 4.5 per cent growth rate in 2012-13 is on account of expansion in financing, insurance, real estate as well as business services (10.9 per cent), transport, storage and communication (6 per cent) and community, social and personal services (5.3 per cent).
At current prices, the gross national income in 2012-13 is estimated at Rs.92.70 lakh crore as compared to Rs.83.10 lakh crore in 2011-12, showing a rise of 11.5 per cent during the year, as against an increase of 16.0 per cent in the previous year,” CSO said in the press release.
Per capita income
According to the statement, per capita income (per capita net national income at factor cost) in real terms is estimated to have risen by 2.1 per cent to Rs.38,856 in 2012-13 from Rs.38,048 in 2011-12. That compared with an increase of 5.1 per cent during the previous year.
Per capita income at current prices is estimated at Rs.67,839 in 2012-13 as against Rs.61,855 in the previous year, a growth of 9.7 per cent as against an increase of 14.5 per cent during the previous year.
Gross fixed capital formation, which is an indicator of investment, amounted to Rs.30.70 lakh crore at current prices in 2012-13 as against Rs.28.60 lakh crore in 2011-12, a rise of 7.4 per cent.
At current prices, gross fixed capital formation of the public sector increased by 23.5 per cent to Rs.7.90 lakh crore in 2012-13 from Rs.6.40 lakh crore in 2011-12 and that of the private corporate sector by 0.8 per cent to Rs.8.60 lakh crore in 2012-13 from Rs.8.50 lakh crore in 2011-12.
In the household sector, it went up by 3.9 per cent to Rs.14.30 lakh crore in 2012-13 from Rs.13.70 lakh crore in 2011-12. — PTI


Popular posts from this blog

Khar’s experimentation with Himalayan nettle brings recognition (downtoearth)

Nature never fails to surprise us. In many parts of the world, natural resources are the only source of livelihood opportunities available to people. They can be in the form of wild shrubs like Daphne papyracea and Daphne bholua (paper plant) that are used to make paper or Gossypium spp (cotton) that forms the backbone of the textile industry.

Nothing can compete with the dynamism of biological resources. Recently, Girardinia diversifolia (Himalayan nettle), a fibre-yielding plant, has become an important livelihood option for people living in the remote mountainous villages of the Hindu Kush Himalaya.

There is a community in Khar, a hamlet in Darchula district in far-western Nepal, which produces fabrics from Himalayan nettle. The fabric and the things made from it are sold in local as well as national and international markets as high-end products.

A Himalayan nettle value chain development initiative implemented by the Kailash Sacred Landscape Conservation and Development Initiati…

SC asks Centre to strike a balance on Rohingya issue (.hindu)

Supreme Court orally indicates that the government should not deport Rohingya “now” as the Centre prevails over it to not record any such views in its formal order, citing “international ramifications”.

The Supreme Court on Friday came close to ordering the government not to deport the Rohingya.

It finally settled on merely observing that a balance should be struck between humanitarian concern for the community and the country's national security and economic interests.

The court was hearing a bunch of petitions, one filed by persons within the Rohingya community, against a proposed move to deport over 40,000 Rohingya refugees. A three-judge Bench, led by Chief Justice of India Dipak Misra, began by orally indicating that the government should not deport Rohingya “now”, but the government prevailed on the court to not pass any formal order, citing “international ramifications”. With this, the status quo continues even though the court gave the community liberty to approach it in …

Cloud seeding

Demonstrating the function of the flare rack that carries silver iodide for cloud-seeding through an aircraft. 
Water is essential for life on the earth. Precipitation from the skies is the only source for it. India and the rest of Asia are dependent on the monsoons for rains. While the South West Monsoon is the main source for India as a whole, Tamil Nadu and coastal areas of South Andhra Pradesh get the benefit of the North East Monsoon, which is just a less dependable beat on the reversal of the South West Monsoon winds.