Ques: Recently the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation have released the advance estimates of national income at constant (2011-12) and current prices for the financial year 2015-16, During the financial year 2015-16, the gross domestic product (GDP) is expected to be-
(a) 7.3
(b) 7.6
(c) 7.2
(d) 8.2
Ans (b)
Related facts:
- On 9 February 2016, the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation have released the advance estimates of national income at constant (2011-12) and current prices for the financial year 2015-16.
- With this the quarterly estimates of GDP for the third quarter October-December (Q3), 2015-16 both at constant (2011-12) and current prices along with the corresponding quarterly estimates of expenditure components of GDP are also being released.
- The growth in GDP during 2015-16 is estimated at 7.6 % as compared to the growth rate of 7.2 % in 2014- 15.
- These estimates are based on anticipated level of agricultural production from the Ministry of Agriculture & Farmers Welfare, Department of Agriculture & Cooperation (DAC), Index of Industrial Production (IIP), monthly accounts of Union Government Expenditure maintained by Controller General of Accounts (CGA) and of State Government expenditure maintained by Comptroller and Auditor General of India (CAG).
- Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2015- 16 is likely to attain a level of 113.51 lakh crore rupeesas against the First Revised Estimate of GDP for the year 2014-15 of`105.52 lakh crore, released on 29th January 2016.
- GDP at current prices in the year 2015-16 is likely to attain a level of 135.67 lakh crore rupees, as against 124.88 lakh crore rupees in 2014-15 showing a growth rate of 8.6 %.
- The per capita income in real terms (at 2011-12 prices) during 2015-16 is likely to attain a level of 77431 rupees as compared to 72889 rupees for the year 2014-15.
- The per capita net national income during 2015-16 is estimated to be 93231 rupees showing a rise of 7.3 % as compared to 86879 rupees during 2014-15 with the growth rate of 9.4 %.
- The nominal Net National Income (NNI), also known as national income (at current prices) is likely to be 119.62 lakh crore rupees during 2015-16, as against 110.08 lakh crore rupees for the year 2014- 15.
- The sectors which are likely to register growth rate of over 7.0 % are financial, real estate and professional services, trade, hotels, transport, communication and services related to broadcasting, and manufacturing.
- The growth in the agriculture, forestry and fishing, mining and quarrying, electricity, gas, water supply and other utility services, construction and public administration, defense and other services is estimated to be 1.1 %, 6.9 %, 5.9 %, 3.7 % and 6.9 % respectively.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=136214
http://www.business-standard.com/article/news-ani/gdp-growth-for-fiscal-2015-16-estimated-to-be-7-6-percent-centre-116020800854_1.html