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First Revised Estimates of National Income Consumption Expenditure Saving and Capital Formation 2014-15

News and Press Release - Dated:- 29-1-2016 - The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2014-15 (with Base Year 2011-12) as per the revision policy. Second Revised Estimates of the years 2011-12 to 2013-14 (with Base Year 2011-12) have also been released as per the calendar of revision of base year. 2. The First Re .....

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ASI): 2013-14, final results of ASI: 2012-13 and revised results of ASI: 2011-12; government expenditure (replacing Revised Estimates with Actuals for the year 2013-14) and also more comprehensive data available from various source agencies and State Directorates of Economics and Statistics. 3. The salient features of the estimates at aggregate level are indicated below: Gross Domestic Product 4. Nominal GDP or GDP at current prices for the year 2014-15 is estimated as ₹ 124.88 lakh crore .....

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fferent sectors of the economy at current and constant (2011-12) prices are presented in Statements 4.1 and 4.2 respectively. At the aggregate level, nominal GVA at basic prices increased by 10.5 per cent during 2014-15, as against 12.7 per cent during 2013-14. In terms of real GVA, i.e., GVA at constant (2011-12) basic prices, there has been a growth of 7.1 per cent in 2014-15, as against growth of 6.3 per cent in 2013-14. 7. The shares of different sectors of economy in the overall GVA during .....

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ant prices Total 81.07 92.10 103.81 114.72 85.47 90.84 97.27 8. The growth in real GVA at during 2014-15 has been higher than that in 2013-14 mainly due to higher growth in mining and quarrying (10.8%), electricity, gas, water supply & other utility services (8.0%), trade, repair, hotels & restaurants (10.7 %), financial services (7.9%), public administration and defence (9.8%), and other services (11.4%), as may be seen from Statement 4.2. At constant prices, in the primary sector (comp .....

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during 2014-15, as against a growth of 5.3 per cent and 7.8 per cent, respectively, in the previous year. Net National Income 9. Nominal Net National Income (NNI) at current prices for the year 2014-15 stands at ₹ 110.08 lakh crore as against ₹ 99.34 lakh crore in 2013-14, showing an increase of 10.8 per cent during 2014-15 as against an increase of 13.2 per cent in the previous year. Gross National Disposable Income 10. Gross National Disposable Income (GNDI) at current prices is e .....

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g is the household sector, with a share of 57.8 per cent in the year 2014-15. However, the share has declined from 63.4 per cent in 2013-14 to 57.8 in 2014-15. This decline can be attributed to the decline in household savings in physical assets, which has declined from ₹ 14.61 lakh crore in 2013-14 to ₹ 13.79 lakh crore in 2014-15. On the other hand, the share of Non-Financial Corporations has increased from 32.7 per cent in 2013-14 to 37.2 per cent in 2014-15. The share of Financia .....

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GCF through the flow of funds approach are treated as the firmer estimates, and the difference between the two approaches is taken as errors and omissions . However, GCF by industry of use and by institutional sectors does not include valuables , and therefore, these estimates are lower than the estimates available from commodity flow approach. 14. Gross Capital Formation (GCF) at current prices is estimated as ₹ 42.76 lakh crore for the year 2014-15 as compared to ₹ 39.12 lakh crore .....

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tor is Non-Financial Corporations, with the share rising steadily from 45.7 per cent in 2011-12 to 52.0 per cent in 2014-15 (Statement 9). Share of household sector in GCF is also significant, but has declined from 43.4 per cent in 2011-12 to 33.9 per cent in 2014-15. The share of General Government in GCF has increased from 9.6 per cent in 2011-12 to 12.9 per cent in 2014-15. 16. Within the Gross Capital Formation at current prices, the Gross Fixed Capital Formation (GFCF) amounted to ₹ 3 .....

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(2011-12) prices has decreased marginally from 36.2 per cent in 2013-14 to 35.9 per cent in 2014-15. Consumption Expenditure 18. Private Final Consumption Expenditure (PFCE) at current prices is estimated at ₹ 71.93 lakh crore for the year 2014-15 as against ₹ 65.08 lakh crore in 2013-14. In relation to GDP, the rates of PFCE at current prices during 2013-14 and 2014-15 are estimated at 57.7 per cent and 57.6 per cent respectively. 19. At constant (2011-12) prices, the PFCE is estima .....

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-14 and 2014-15 stand at ₹ 9.77 lakh crore and ₹ 11.03 lakh crore respectively. Estimates at per capita level 21. Per Capita Income, i.e., Per Capita Net National Income at current prices, is estimated as ₹ 79,412 and ₹ 86,879 respectively for the years 2013-14 and 2014-15. Correspondingly, Per Capita PFCE at current prices, for the years 2013-14 and 2014-15 is estimated at ₹ 52,022 and ₹ 56,772 respectively. 22. More details of these estimates are available i .....

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sed Estimates are mentioned in the Annexure. Revision in the estimates of 2014-15: 24. The following statement gives the major reasons for variation between the Provisional Estimates (released in May 2015) and the First Revised Estimates of GVA for 2014-15. Sector GVA growth in 2014-15 Major reasons for variation Prov. Estimate, May 2015 First Revised Estimate, Jan 2016 Primary 0.6 1.3 Revision in estimates of production of some crops, livestock products, fish and forestry products; and use of a .....

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and replacement of key financial indicators derived from advance filings of a small sample of Companies with actual analysis of financial reports of a larger sample of public & private sector companies. Total 7.2 7.1 Upcoming Releases 25. The upcoming releases on GDP are indicated below: i. Advance Estimates for the year 2015-16, along with quarterly estimates for Q1, Q2 and Q3 of 2015-16 on February 8, 2016; and ii. Provisional Estimates for the year 2015-16, along with estimates for all th .....

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se at constant (2011-12) prices 6. Statement 4.1: Gross Value Added by economic activity at current basic prices 7. Statement 4.2: Gross Value Added by economic activity at constant (2011-12) basic prices 8. Statement 5: Finances for Gross Capital Formation 9. Statement 6.1: Gross Capital Formation by industry of use at current prices 10. Statement 6.2: Gross Capital Formation by industry of use at constant (2011-12) prices 11. Statement 7.1: Gross Fixed Capital Formation by asset& instituti .....

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USED IN THE PRESS RELEASE CE: Compensation of Employees CFC: Consumption of Fixed Capital CIS: Changes in Stock GCF: Gross Capital Formation GDI: Gross Disposable Income GDP: Gross Domestic Product GFCE: Government Final Consumption Expenditure GFCF: Gross Fixed Capital Formation GNDI: Gross National Disposable Income GNI: Gross National Income GVA: Gross Value Added MI: Mixed Income NDP: Net Domestic Product NNDI:Net National Disposable Income NNI: Net National Income OS: Operating Surplus PFCE .....

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current transfers from ROW, net (Receipts less payments) 8. Gross Capital Formation= Gross Savings+ Net Capital Inflow from ROW 9. GCF = GFCF + CIS + Valuables + Errors and Omissions 10. Gross Disposable Income of Govt. = GFCE + Gross Saving of General Government 11. Gross Disposable Income (GDI) of Households = GNDI - GDI of Govt. - Gross Savings of All Corporations REMARKS ON THE FORMULAE: 1. Production taxes or subsidies are paid or received with relation to production and are independent of .....

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