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The Central Statistical Organisation (CSO), Ministry of Statistics and Programme Implementation, released here today the revised estimates of national income for the financial year 2004-05 at constant (1993-94) and current prices. The CSO has also released the quarterly estimates of Gross Domestic Product (GDP) for the fourth quarter (January-March) of 2004-05, both at constant (1993-94) and current prices.
I REVISED ANNUAL ESTIMATES FOR THE YEAR 2004-05
The advance estimates of national income for the year 2004-05 were released on 7th February, 2005. These estimates have now been revised incorporating latest estimates of agricultural production, index of industrial production and performance of key sectors like, railways, transport other than railways, communication, banking and insurance and government expenditure.
The salient features of these estimates are detailed below:
(a) Estimates at constant (1993-94) prices
Gross Domestic Product
GDP at factor cost at constant (1993-94) prices in the year 2004-05 is now estimated at Rs.15,29,408 crore (as against Rs. 15,29,366 crore estimated earlier on 7th February, 2005), showing a growth rate of 6.9 per cent over the Quick Estimates of GDP for the year 2003-04 of 14,30,548 crore, released on 31st January 2005.
The sectors which showed growth rates of 5 per cent or more, are ‘manufacturing’ (9.2 per cent), ‘electricity, gas and water supply' (5.5 per cent), ‘construction’ (5.2 per cent), 'trade, hotels, transport and communication' (11.4 per cent), 'financing, insurance, real estate and business services' (7.1 per cent), and 'community, social and personal services' (5.9 per cent).
National Income
The net national product (NNP) at factor cost, also known as national income, at 1993-94 prices is now estimated at Rs. 13,54,599 crore (as compared to Rs. 13,54,385 crore estimated earlier), during 2004-05, as against the previous year’s Quick Estimate of Rs. 12,66,005 crore. In terms of growth rates, the national income is estimated to rise by 7.0 per cent during 2004-05 in comparison to the growth rate of 9.0 per cent in 2003-04.
Per Capita Income
The per capita income in real terms (at 1993-94 prices) during 2004-05 is estimated to attain a level of Rs. 12,416 (as against Rs. 12,414 estimated on 7th February, 2005), as compared to the Quick Estimates for the year 2003-04 of Rs. 11,799. The growth rate in per capita income is estimated at 5.2 per cent during 2004-05, as against the estimated growth rate of 7.1 per cent in 2003-04.
(b) Estimates at current prices
Gross Domestic Product
GDP at factor cost at current prices in the year 2004-05 is estimated at Rs. 28,30,465 crore, showing a growth rate of 12.3 per cent over the Quick Estimates of GDP for the year 2003-04 of Rs. 25,19,785 crore, released on 31st January 2005.
National Income
The NNP at factor cost at current prices is now estimated at Rs. 25,35,627 crore during 2004-05, as compared to Rs. 22,52,070 crore during 2003-04, showing a rise of 12.6 per cent.
Per Capita Income
The per capita income at current prices during 2004-05 is estimated to attain a level of Rs.23,241 as compared to the Quick Estimates for the year 2003-04 of Rs.20,989, showing a rise of 10.7 per cent.
Estimates of gross/net national product, gross/net domestic product and per capita income, alongwith GDP at factor cost by kind of economic activity, for the years 2002-03, 2003-04 and 2004-05, at constant (1993-94) and current prices see Statements 1 to 4.
II ESTIMATES OF GDP FOR THE LAST QUARTER JAN-MAR 2005
(a) Estimates at constant (1993-94) prices
The four quarters of a financial year are denoted by Q1, Q2, Q3 and Q4. GDP at factor cost at constant (1993-94) prices in Q4 of 2004-05 is estimated at Rs. 4,14,045 crore, as against Rs. 3,86,819 crore in Q4 of 2003-04, showing a growth rate of 7.0 per cent. The sectors which registered significant growth rates in Q4 of 2004-05 over Q4 of 2003-04 are ‘manufacturing’ at 8.6 per cent, 'trade, hotels, transport and communication' at 11.1 per cent, 'financing, insurance, real estate and business services' at 7.7 per cent, and 'community, social and personal services' at 7.2 per cent.
(b) Estimates at current prices
GDP at factor cost at current prices in Q4 of 2004-05 is estimated at Rs. 7,64,696 crore, as against Rs. 6,84,843 crore in Q4 of 2003-04, showing a rise of 11.7 per cent.
Estimates of GDP at factor cost by kind of economic activity for the four quarters of 2002-03, 2003-04 and 2004-05 at constant (1993-94) and current prices, alongwith the growth rates, see Statements 5 and 6.
STATEMENT 1: Revised Estimates of National Income for the year 2004-05
(At 1993-94 prices)
Item
2002-03
2003-04
(Quick Estimate)
2004-05 (Revised Estimate)
ESTIMATES AT AGGREGATE LEVEL
NATIONAL PRODUCT (Rs. Crore)
Gross national product (GNP) at
factor cost
13,10,471
14,22,479
(8.5)
15,19,749
(6.8)
Net national product (NNP) at
factor cost
11,61,902
12,66,005
(9.0)
13,54,599
(7.0)
DOMESTIC PRODUCT (Rs. crore)
Gross domestic product (GDP) at
factor cost
2.2 Gross domestic product (GDP) at
market prices
13,18,362
14,40,632
14,30,548
(8.5)
15,64,620
(8.6)
15,29,408
(6.9)
16,75,500
(7.1)
Net domestic product (NDP) at
factor cost
11,69,793
12,74,074
(8.9)
13,64,259
(7.1)
ESTIMATES AT PER CAPITA LEVEL
Population (million)
1,055
1,073
(1.7)
1,091
(1.7)
Per capita NNP at factor cost (Rs.)
11,013
11,799
(7.1)
12,416
(5.2)
Note: The figures in parenthesis show the percentage change over previous year
STATEMENT 2: Revised Estimates of GDP at Factor Cost by Economic Activity
(At 1993-94 prices)
Rs. Crore
Industry
2002-03
2003-04
(Quick Estimate)
2004-05 (Revised Estimate)
Percentage change over previous year
2003-04 2004-05
1. agriculture, forestry & fishing
2,83,393
3,10,611
3,14,180
9.6
1.1
2. mining & quarrying
31,185
33,195
34,700
6.4
4.5
3. manufacturing
2,27,642
2,43,400
2,65,712
6.9
9.2
4. electricity, gas & water supply
31,659
32,827
34,624
3.7
5.5
5. construction
69,911
74,819
78,724
7.0
5.2
6. trade, hotels, transport and
communication
3,26,968
3,65,559
4,07,139
11.8
11.4
7. financing, insurance, real estate
& business services
1,71,463
1,83,718
1,96,820
7.1
7.1
8. community, social & personal
services
1,76,141
1,86,419
1,97,509
5.8
5.9
GDP at factor cost
13,18,362
14,30,548
15,29,408
8.5
6.9
STATEMENT 3: Revised Estimates of National Income for the year 2004-05
(At current prices)
Item
2002-03
2003-04
(Quick Estimate)
2004-05 (Revised Estimate)
ESTIMATES AT AGGREGATE LEVEL
1. NATIONAL PRODUCT (Rs. crore)
1.1 Gross national product (GNP) at
factor cost
22,41,722
25,05,707
(11.8)
28,12,758
(12.3)
1.2 Net national product (NNP) at
factor cost
20,08,770
22,52,070
(12.1)
25,35,627
(12.6)
2. DOMESTIC PRODUCT (Rs. crore)
2.1 Gross domestic product (GDP) at
factor cost
2.2 Gross domestic product (GDP) at
market prices
22,54,888
24,63,324
25,19,785
(11.7)
27,60,025
(12.0)
28,30,465
(12.3)
31,05,512
(12.5)
2.3 Net domestic product (NDP) at
factor cost
20,21,936
22,66,148
(12.1)
25,53,334
(12.7)
B. ESTIMATES AT PER CAPITA LEVEL
Population (million)
1,055
1,073
(1.7)
1,091
(1.7)
Per capita NNP at factor cost (Rs.)
19,040
20,989
(10.2)
23,241
(10.7)
Note: The figures in parenthesis show the percentage change over previous year
STATEMENT 4: Revised Estimates of GDP at Factor Cost by Economic Activity
(At current prices)
Rs. Crore
Industry
2002-03
2003-04
(Quick Estimate)
2004-05 (Revised Estimate)
Percentage change over previous year
2003-04 2004-05
1. agriculture, forestry & fishing
5,07,863
5,75,283
5,98,163
13.3
4.0
2. mining & quarrying
62,116
63,357
79,962
2.0
26.2
3. manufacturing
3,51,824
3,92,919
4,55,789
11.7
16.0
4. electricity, gas & water supply
49,883
54,113
58,039
8.5
7.3
5. construction
1,39,754
1,55,834
1,74,571
11.5
12.0
6. trade, hotels, transport and
communication
5,06,021
5,78,597
6,74,681
14.3
16.6
7. financing, insurance, real estate
& business services
3,10,075
3,40,102
3,87,881
9.7
14.0
8. community, social & personal
services
3,27,352
3,59,580
4,01,378
9.8
11.6
GDP at factor cost
22,54,888
25,19,785
28,30,465
11.7
12.3
STATEMENT 5: Quarterly Estimate of GDP for 2004-05
(at 1993-94 prices)
industry
GDP AT FACTOR COST (Rs. in crore)
PERCENTAGE CHANGE OVER PREVIOUS YEAR
2002-03
2003-04
2004-05
2003-04
2004-05
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
1. agriculture, forestry & fishing
70863
53180
86681
72670
70930
57001
102458
80224
73612
56984
101915
81668
0.1
7.2
18.2
10.4
3.8
0.0
-0.5
1.8
2. mining & quarrying
7314
7377
8053
8441
7645
7682
8527
9341
8170
8044
8912
9574
4.5
4.1
5.9
10.7
6.9
4.7
4.5
2.5
3. manufacturing
53689
55509
57542
60904
56982
59333
61546
65539
61457
65045
68005
71205
6.1
6.9
7.0
7.6
7.9
9.6
10.5
8.6
4. electricity, gas & water supply
7769
7883
8052
7956
8000
7970
8296
8561
8489
8695
8657
8784
3.0
1.1
3.0
7.6
6.1
9.1
4.4
2.6
5. construction
16873
16746
17639
18655
17992
18161
18787
19879
18896
18991
20143
20694
6.6
8.5
6.5
6.6
5.0
4.6
7.2
4.1
6. trade, hotels, transport &
commn.
76024
76288
84842
89813
82117
84196
96330
102915
91552
94537
106756
114295
8.0
10.4
13.5
14.6
11.5
12.3
10.8
11.1
7. financing, ins., real est. & bus.
services
41469
41963
43228
44803
44126
44981
46384
48227
47202
47461
50201
51955
6.4
7.2
7.3
7.6
7.0
5.5
8.2
7.7
8. community, social & personal
services
37588
41476
43395
53682
40971
47673
45642
52133
44337
49113
48190
55870
9.0
14.9
5.2
-2.9
8.2
3.0
5.6
7.2
GDP at factor cost
311588
300422
349433
356924
328764
326997
387969
386819
353715
348870
412779
414045
5.5
8.8
11.0
8.4
7.6
6.7
6.4
7.0
STATEMENT 6: Quarterly Estimate of GDP for 2004-05
(at current prices)
industry
GDP AT FACTOR COST (Rs. in crore)
PERCENTAGE CHANGE OVER PREVIOUS YEAR
2002-03
2003-04
2004-05
2003-04
2004-05
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
1. agriculture, forestry & fishing
126096
95874
156308
129585
132023
105363
191244
146653
139381
109518
196134
153131
4.7
9.9
22.4
13.2
5.6
3.9
2.6
4.4
2. mining & quarrying
14250
14596
16013
17257
14023
14540
16328
18466
16981
18804
21317
22861
-1.6
-0.4
2.0
7.0
21.1
29.3
30.6
23.8
3. manufacturing
81602
85720
89119
95383
90198
94863
99627
108231
103093
111865
117324
123507
10.5
10.7
11.8
13.5
14.3
17.9
17.8
14.1
4. electricity, gas & water supply
11853
12492
12846
12692
13025
13052
13768
14268
14217
14528
14465
14829
9.9
4.5
7.2
12.4
9.2
11.3
5.1
3.9
5. construction
33005
33445
35398
37906
36908
37448
39264
42214
40871
42290
45133
46278
11.8
12.0
10.9
11.4
10.7
12.9
14.9
9.6
6. trade, hotels, transport &
commn.
116412
118502
132369
138738
130101
132531
153658
162307
150155
157941
179907
186679
11.8
11.8
16.1
17.0
15.4
19.2
17.1
15.0
7. financing, ins., real est. & bus. services
73491
75894
78463
82227
80660
82551
86120
90771
90967
94137
99848
102929
9.8
8.8
9.8
10.4
12.8
14.0
15.9
13.4
8. community, social & personal
services
68340
77073
81104
100836
77919
91349
88379
101934
87975
100086
98834
114482
14.0
18.5
9.0
1.1
12.9
9.6
11.8
12.3
GDP at factor cost
525049
513595
601619
614624
574857
571696
688388
684843
643640
649166
772962
764696
9.5
11.3
14.4
11.4
12.0
13.6
12.3
11.7
Q1: April-June; Q2: July-September; Q3: October-December; Q4: January-March
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