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Estimates of Gross Domestic Product for the First Quarter (April-June) of 2012-13

New Delhi: August 31,2012

The  Central  Statistics  Office  (CSO),  Ministry  of  Statistics  and  Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter  (April-June)  Q1  of  2012-13,  both  at  constant  (2004-05)  and  current  prices, alongwith the corresponding quarterly estimates of expenditure components of the GDP.

 

 

2.                 The details of the estimates are presented below.

 

 

I                   ESTIMATES OF GDP BY ECONOMIC ACTIVITY

(a)               At constant (2004-2005) prices

 

3.                 Quarterly GDP at factor cost at constant (2004-2005) prices for Q1 of 2012-13 is estimated at ` 13,06,276 crore, as against `12,38,738 crore in Q1 of 2011-12, showing a growth rate of 5.5 per cent over the corresponding quarter of previous year.

 

4.                 The economic activities which registered significant growth in Q1 of 2012-13 over Q1 of  2011-12  are  ‘construction’ at 10.9  per cent,  ‘financing,  insurance,  real  estate  and business services’  at  10.8  per  cent  and ‘community,  social  and  personal services’ at 7.9 per cent.  The estimated growth rates in other economic activities are:  2.9  percent  in  agriculture,  forestry  &  fishing,  0.1  percent  in  mining  & quarrying’, 0.2  per  cent  in  manufacturing’,  6.3  percent  in  ‘electricity, gas and water supply’ and 4.0 percent in ‘trade,  hotels, transport  and  communication’ during this period.

 

 

5.                 According  to  the  information  furnished  by  the  Department  of  Agriculture  and Cooperation  (DAC),  which  has  been  used  in  compiling  the  estimate  of  GDP  from agriculture  in Q1 of 2012-13the production of cereals recorded  growth  rate  of 3.5 per cent during  the  Rabi  season  of  agriculture year 2011-12 (which ended in June 2012) over the production in the corresponding season of previous agriculture year. The production of wheat increased by 8.1 per cent durinthRabseason  of  agriculture year 2011-12, while rice registered a decline of 16.6 per cent. Among the commercial crops, the production of oilseeds declined by 12.6 per cent during the Rabi season of 2011-12, while production of cotton and sugarcane recorded growth rates of 6.7 per cent and 4.5 per cent, respectively during agricultural year 2011-12.

 

6.                 According to the Index of Industrial Production (IIP) with 2004-05 base, the index of mining, manufacturing and electricity, registered growth rates of (-) 1.1 per cent, (-) 0.7 per cent and 6.4 per cent, respectively during Q1 of 2012-13, as compared to the growth rates of 0.6 per cent, 7.7 per cent and 8.3 per cent in these sectors during Q1 of 2011-12.

 

7.                 Among the services sectors, the key indicators of railways, namely, the net tonne kilometres and passenger kilometres have shown growth rates of 1.2 per cent and 6.9 per cent, respectively during Q1 of 2012-13.  In the transport sector, the sales of commercial vehicles, cargo handled at major ports, cargo handled by the civil aviation, passengers handled by the civil aviation registered growth rates of 6.1 per cent, (-) 5.5 per cent, (-) 4.7 per cent and 2.6 per cent respectively during Q1 of 2012-13 over Q1 of 2011-12.  The other key indicators, namely, aggregate bank deposits and bank credits have shown growth rates of 15.9 per cent and 18.6 per cent, respectively as on June 2012.

 
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