QUICK ESTIMATES OF NATIONAL INCOME
CONSUMPTION EXPENDITURE,
SAVING AND CAPITAL FORMATION, 2001-02
The Central
Statistical Organisation (CSO), Ministry of Statistics and Programme
Implementation has released the Quick estimates of national income,
consumption expenditure, saving and capital formation for the
financial year 2001-02. The salient features of the estimates,
which are based on latest available information, are indicated
below:
GROSS DOMESTIC
PRODUCT AND NATIONAL INCOME
Gross domestic
product (GDP) at factor cost at constant (1993-94) prices in 2001-02
is estimated at Rs. 12,65,429 crore as against Rs. 11,98,685 crore
in 2000-01 registering a growth of 5.6 per cent during the year
as against the growth rate of 4.4 per cent during the previous
year. The growth rate of GDP for 2000-01 has been revised to 4.4
per cent (as against 4.0 per cent as per Quick Estimates released
in January, 2002), mainly because of the incorporation of current
data relating to private communication services. At current prices,
GDP in 2001-02 is estimated at Rs. 20,94,013 crore as against
Rs. 19,17,724 crore in 2000-01, showing an increase of 9.2 per
cent during the year.
At constant
(1993-94) prices the national income (i.e. net national product
at factor cost) in 2001-02 is estimated at Rs. 11,15,157 crore
as against Rs. 10,50,177 crore in 2000-01 showing a rise of 6.2
per cent during the year. At current prices, the national income
in 2001-02 is estimated at Rs. 18,64,292 crore as compared to
Rs.17,02,454 crore in 2000-01, showing a rise of 9.5 per cent
during the year.
The growth
rate of 5.6 per cent in the GDP during 2001-02 has been achieved
because of high growth in agriculture(5.7%), hotel & restaurants
(11.2%), trade (8.7%), communication (17%), real estate, ownership
of dwelling & business services (5.7%) and other services
(7.7%).
PER CAPITA NATIONAL INCOME
The per capita
income (per capita net national product at factor cost) in real
terms, i.e. at 1993-94 prices, is estimated at Rs. 10,754 for
2001-02 as against Rs.10,306 for 2000-01, registering an increase
of 4.3 per cent during the year. The per capita income at current
prices is estimated at Rs. 17,978 in 2001-02 as against Rs. 16,707
for the previous year depicting a growth of 7.6 per cent.
CONSUMPTION EXPENDITURE,
SAVING AND CAPITAL FORMATION
In order to
derive the GDP at market prices, the GDP at factor cost is adjusted
by adding indirect taxes net of subsidies. As various components
of expenditure on gross domestic product, namely, consumption
expenditure and capital formation, are normally measured at market
prices, the discussion in the following paragraphs is in terms
of market prices only.
PRIVATE FINAL
CONSUMPTION EXPENDITURE
Private final
consumption expenditure (PFCE) in the domestic market at current
prices works out to Rs. 14,92,894 crore in 2001-02 as against
Rs. 13,59,358 crore in 2000-01. At constant (1993-94) prices PFCE
works out to Rs. 8,66,911 crore in 2001-02 as against Rs. 8,18,636
crore in 2000-01. The per capita PFCE in 2001-02 works out to
Rs. 14,396 at current prices and Rs. 8,360 at constant (1993-94)
prices as against Rs. 13,340 and Rs. 8,034 respectively in 2000-01.
The expenditure at constant prices on all items except, sugar
& gur, oil & oil seeds, tobacco & its products and
clothing, has increased in 2001-02 as compared to that of the
previous year.
DOMESTIC SAVING
Gross domestic
saving (GDS) at current prices in 2001-02 is estimated at Rs.
5,49,963 crore as against Rs. 4,91,761 crore in 2000-01, constituting
24.0 per cent of GDP at market prices as against 23.4 per cent
in the previous year. The rise in GDS has been contributed mainly
by the household and private corporate sector. However, there
is a steep fall in the saving of the public sector. In respect
of the household sector, the saving in the form of financial and
physical assets has gone up from Rs. 2,17,841 crore and Rs. 2,35,800
crore in 2000-01 to Rs. 2,56,647 crore and Rs. 2,58,918 crore
in 2001-02 respectively. Saving of private corporate sector has
gone up from Rs. 86,142 crore in 2000-01 to Rs. 92,060 crore in
2001-02. The saving of the public sector showed a decline from
(-) Rs. 48,022 crore in 2000-01 to (-) Rs. 57,662 crore in 2001-02.
The decrease in the public sector saving is mainly due to increase
in the dis-saving of government administrative departments from
(-) Rs. 1,13,636 crore in 2000-01 to (-) Rs.1, 31,394 crore in
2001-02. The net domestic saving has correspondingly gone up from
Rs. 2,93,905 crore in 2000-01 to Rs. 3,32,905 crore in 2001-02
and constitutes 15.4 per cent of net domestic product at market
prices in 2000-01 as against 16.0 per cent in 2001-02. As in the
case of gross saving, the net saving of the household sector has
also gone up by 14.3 per cent from Rs. 3,87,577 crore in 2000-01
to Rs. 4,42,906 crore in 2001-02. However, the net saving of the
private corporate sector has marginally declined by 0.8 per cent
from Rs. 30,657 crore in 2000-01 to Rs. 30,421 crore in 2001-02.
The net dis-saving of the public sector has increased by about
12.9 per cent from (-) Rs. 1,24,329 crore in 2000-01 to (-) Rs.
1,40,422 crore in 2001-02.
CAPITAL FORMATION
Gross capital
formation at current prices has increased from Rs. 5,04,738 crore
in 2000-01 to Rs. 5,45,091 crore in 2001-02 and at constant (1993-94)
prices, it increased from Rs. 3,45,209 crore in 2000-01 to Rs.
3,55,720 crore in 2001-02. The rate of gross capital formation
at current prices has decreased from 24.0 per cent in 2000-01
to 23.7 per cent in 2001-02. The rate of capital formation in
2000-01 was higher than the rate of saving but is lower in 2001-02
because of the positive net capital inflow from abroad which was
Rs. 12,977 crore in 2000-01 and negative Rs. 4,872 crore in 2001-02.
The rate of gross capital formation at constant (1993-94) prices
also decreased from 26.2 per cent in 2000-01 to 25.6 per cent
in 2001-02. The rate of net capital formation at current prices
in 2001-02 was 15.8 per cent as compared to 16.1 per cent in 2000-01.
Within the
gross capital formation at current prices, the gross fixed capital
formation amounted to Rs. 4,97,278 crore in 2001-02 as against
Rs. 4,59,787 crore in 2000-01, thus showing an increase of 8.2
per cent over the previous year. At current prices, the gross
fixed capital formation of the public sector increased by 6.2
per cent from Rs. 1,27,755 crore in 2000-01 to Rs. 1,35,669 crore
in 2001-02; that of private corporate sector by 5.6 per cent from
Rs.1,00,552 crore in 2000-01 to Rs. 1,06,188 crore in 2001-02,
and that of the household sector by 10.3 per cent from Rs. 2,31,480
crore in 2000-01 to Rs. 2,55,421 crore in 2001-02.
The change
in stocks of inventories, measured as additions to stocks increased
by 28.7 per cent at current prices from Rs. 13,834 crore in 2000-01
to Rs. 17,810 crore in 2001-02. The increase is observed in public
sector from Rs. 6,270 crore to Rs. 9,413 crore, private corporate
sector from Rs. 3,244 crore to Rs. 4,900 crore and household sector
however, showed a decline from Rs. 4,320 crore to Rs. 3,497 crore.
The estimates
of National Product, Consumption Expenditure, Saving and Capital
Formation at aggregate and per capita levels for the years 1993-94,
2000-01 and 2001-02 are presented in Statement 1 and the detailed
estimates at industry/item level in Statements 2 to 10.
