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THIS PRESS RELEASE IS EMBARGOED AGAINST PUBLICATION, TELECAST OR CIRCULATION ON INTERNET

TILL 5:30 PM ON JANUARY 30, 2015

MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION


GOVERNMENT OF INDIA
Dated, the 30th January, 2015
10th Magha, 1936 Saka
PRESS NOTE
NEW SERIES ESTIMATES OF NATIONAL INCOME,
CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION
(Base year 2011-12)
The Ministry of Statistics & Programme Implementation has released the new series of
national accounts, revising the base year from 2004-05 to 2011-12. The base year of national
accounts was last revised in January 2010.
2.
Base year revisions differ from annual revisions in National Accounts primarily because of
nature of changes. In annual revisions, changes are made only on the basis of updated data
becoming available without making any changes in the conceptual framework or using any new
data source, to ensure strict comparison over years. In case of base year revisions, apart from a shift
in the reference year for measuring the real growth, conceptual changes, as recommended by the
international guidelines, are incorporated. Further, statistical changes like revisions in the
methodology of compilation, adoption of latest classification systems, and, inclusion of new and
recent data sources are also made. Changes are also made in the presentation of estimates to
improve ease of understanding for analysis and facilitate international comparability.
3.
Improvements as noted above, especially incorporation of new datasets, have resulted in a
correction in the level of GDP, which is likely to affect a wide range of indicators where it is used
as a reference point: for instance, trends in public expenditure, taxes and public sector debt that are
conventionally analysed in terms of their ratios to nominal GDP. It may be noted that the level of
revision in the present base revision is not large enough to affect any of these ratios significantly.
4.
Users are requested to note that Gross Domestic Product (GDP) at factor cost will no longer
be discussed in the press releases. As is the practice internationally, industry-wise estimates will be
presented as Gross Value Added (GVA) at basic prices, while GDP at market prices will
henceforth be referred to as GDP. Estimates of GVA at factor cost (earlier called GDP at factor
cost) can be compiled by using the estimates of GVA at basic prices and production taxes less
subsidies as given in Statement 3.1 of this note. For the years 2011-12, 2012-13 and 2013-14, GVA
at factor cost have been compiled and are presented in Statements 10.1 & 10.2.
5.
A brief note on the conceptual and statistical changes made in the new series, and its effect
on the key estimates are given in Annex. A short publication giving more details of the revision
shall be made available in public domain by the last week of February 2015.

6.
The salient features of the key macro-economic aggregates are indicated in the following
paragraphs.
Gross Domestic Product
7.
GDP for the base year 2011-12 is estimated as Rs. 88.3 lakh crore. Nominal GDP or GDP at
current prices for the year 2012-13 is estimated as Rs. 99.9 lakh crore while that for the year 201314 is estimated as Rs. 113.5 lakh crore, exhibiting a growth of 13.1 percent and 13.6 percent during
the years 2012-13 and 2013-14 respectively.
8.
Real GDP or GDP at constant (2011-12) prices stands at Rs.92.8 lakh crore and Rs.99.2
lakh crore, respectively for the years 2012-13 and 2013-14, showing growth of 5.1 percent during
2012-13, and 6.9 percent during 2013-14.
Industry-wise Analysis
9.
The percentage changes in the Gross Value Added (GVA) at basic prices in different sectors
of the economy are presented in Statements 4.1 and 4.2. At the aggregate level, nominal GVA at
basic prices increased by 13.2 percent during 2013-14, as against 12.9 percent during 2012-13
(Statement 1.1). In terms of real GVA, i.e., GVA at constant (2011-12) basic prices, there has been
a growth of 6.6 percent in 2013-14, as against growth of 4.9 percent in 2012-13.
10.
The growth in GVA during 2013-14 has been higher than that in 2012-13 due to higher
growth in trade & repair services (14.3%), communication and services related to broadcasting
(13.4%), other services (10.7%), agriculture, forestry and fishing (3.7%), construction (2.5%)
and public administration & defence (4.9%).
Net National Income
11.
Nominal Net National Income (NNI) for the year 2011-12 stands at Rs. 78.5 lakh crore,
while the estimates for the years 2012-13 and 2013-14 are Rs. 88.4 lakh crore and Rs. 100.6 lakh
crore, showing an increase of 12.7 percent and 13.7 percent during 2012-13 and 2013-14
rsepectively.
Gross National Disposable Income
12.
Gross National Disposable Income (GNDI) at current prices is estimated as Rs.90.6 lakh
crore for the year 2011-12, while the estimates for the years 2012-13 and 2013-14 stand at 102.2
lakh crore and Rs.116.0 lakh crore, respectively.

Saving
13.
Gross Saving during 2011-12 is estimated as Rs.29.9 lakh crore, and the estimates for the
years 2012-13 and 2013-14 are Rs. 31.8 lakh crore and Rs. 34.8 lakh crore respectively. Rate of
Saving to GNDI for the years 2011-12, 2012-13 and 2013-14 is estimated as 33.0 percent, 31.1
percent and 30.0 percent respectively.

14.
The highest contributor to the Gross Saving is the household sector, with a share of 59.4
percent in the year 2013-14. However, the share has declined from 67.3 percent in 2011-12 and
63.4 percent in 2012-13. This decline can be attributed to the decline in household savings in
physical assets, which has declined from Rs.13.4 lakh crore in 2011-12 to Rs. 12.1 lakh crore in
2013-14. On the other hand, the share of Non-Financial Corporations has increased from 29.3
percent in 2011-12 to 34.5 percent in 2013-14. The share of Financial Corporations has been
around 9 percent in all these years, while the dis-saving of General Government has decreased from
5.4 percent in 2011-12 to 3.2 percent in 2013-14.
Capital Formation
15.
Gross Capital Formation (GCF) at current and constant prices is estimated by two
approaches (i) through flow of funds, derived as Gross Saving plus net capital inflow from
abroad; and (ii) by the commodity flow approach, derived by the type of assets. The estimates of
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.
16.
Gross Capital Formation (GCF) at current prices is estimated as Rs. 33.7 lakh crore for the
year 2011-12, while the estimates for both the years 2012-13 and 2013-14 stand at Rs. 36.6 lakh
crore. Since GCF did not increase during 2013-14, the rate to GDP declined during the year to 32.3
percent as against 36.6 during 2012-13. The rate of GCF to GDP excluding valuables stands at 33.9
percent and 31 percent during 2012-13 and 2013-14 respectively. The rate of capital formation in
the years 2011-12 to 2013-14 has been higher than the rate of saving because of net capital inflow
from Rest of the World (ROW).
17.
In terms of the share to the total GCF (at current prices), the highest contributor is NonFinancial Corporations, with the share rising steadily from 46.6 percent in 2011-12 to 51.5 percent
in 2013-14. Share of household sector in GCF is also significant, which has declined from 42
percent in 2011-12 to 34.2 percent in 2013-14. The share of General Government in GCF has
increased from 10 percent in 2011-12 to 13.2 percent in 2013-14.
18.
The rate of Gross Capital Formation at constant (2011-12) prices has decreased from 37.2 in
2012-13 to 33.4 in 2013-14.
19.
Within the Gross Capital Formation at current prices, the Gross Fixed Capital Formation
(GFCF) amounted to Rs. 33.7 lakh crore in 2013-14 as against Rs. 31.4 lakh crore and Rs. 29.7
lakh crore in 2012-13 and 2011-12 respectively. The change in stocks of inventories, at current
prices, decreased from Rs. 2.2 lakh crore in 2011-12 to Rs. 1.8 lakh crore in 2013-14, while the
valuables decreased from Rs. 2.5 lakh crore in 2011-12 to Rs. 1.5 lakh crore in 2013-14.
Consumption Expenditure
20.
Private Final Consumption Expenditure (PFCE) at current prices is estimated at Rs. 50.9
lakh crore for the base year 2011-12, increasing to Rs. 58.8 lakh crore in 2012-13 and further to Rs.
67.7 lakh crore in 2013-14. In terms of GDP, the rates of PFCE at current prices during 2011-12,

2012-13 and 2013-14 are estimated at 57.6 percent, 58.8 percent and 59.7 percent respectively.
21.
At constant (2011-12) prices, the PFCE is estimated at Rs. 53.7 lakh crore and Rs. 57.0 lakh
crore for the years 2012-13 and 2013-14 respectively. The corresponding rates of PFCE for the
years 2012-13 and 2013-14 are 57.9 percent and 57.5 percent respectively.
22.
Government Final Consumption Expenditure (GFCE) is estimated at Rs. 9.9 lakh crore for
the year 2011-12. The estimates of GFCE at current prices for the years 2012-13 and 2013-14 stand
at Rs. 10.9 lakh crore and Rs. 12.8 lakh crore, respectively. At constant (2011-12) prices, the
estimates of GFCE for the years 2012-13 and 2013-14 stand at Rs. 10.0 lakh crore and Rs. 10.9
lakh crore respectively.

Estimates at per capita level


23.
For the purpose of estimation of Per Capita Income and Per Capita PFCE, Population
Projections compiled on the basis of Census 2011 have been used. Per Capita Income at current
prices, estimated as Per Capita Net National Income at current prices, is estimated at Rs. 64316, Rs.
71593 and Rs. 80388 for the years 2011-12, 2012-13 and 2013-14 respectively. Correspondingly,
Per Capita PFCE at current prices, for the years 2011-12, 2012-13 and 2013-14 is estimated as Rs.
41728, Rs. 47572 and Rs. 54133, respectively.
24.

Details of these estimates are available in Statements 1-10 appended with this Press Note.

25.
i.

The upcoming releases on GDP are indicated below:


Advance Estimates for the year 2014-15 alongwith quarterly estimates for Q1, Q2 and Q3
of 2014-15 on February 9, 2015; and
Provisional Estimates for the year 2014-15 alongwith estimates for all the four quarters of
the year on May 29, 2015.

ii.

*****************

List of Statements
1.
2.
3.
4.

Statement 1.1: Key aggregates of national accounts at current prices


Statement 1.2: Key aggregates of national accounts at constant (2011-12) prices
Statement 2: Per Capita Income, Product and Final Consumption
Statement 3.1: Output by economic activity and capital formation by industry of use at current
prices
5. Statement 3.2: Output by economic activity and capital formation by industry of use 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 & institutional sector at current prices
12. Statement 7.2: Gross Fixed Capital Formation by asset & institutional sector at constant (201112) prices
13. Statement 8.1: Private Final Consumption Expenditure at Current Prices
14. Statement 8.2: Private Final Consumption Expenditure at Constant (2011-12) Prices
15. Statement 9: Institutional Sectors Key economic indicators at current prices
16. Statement 10.1: Gross Value Added at factor cost by economic activity at current prices
17. Statement 10.2 : Gross Value Added at factor cost by economic activity at constant (2011-12)
prices
NOTES ON THE STATEMENTS

Statement 1.1
Key aggregates of national accounts at current prices
(` crore)
S.No.

Item

Domestic Product
GVA at basic prices
Taxes on Products including import duties
Less Subsidies on Products
GDP (1+2-3)
CFC
NDP(4-5)

1
2
3
4
5
6

10
10.1
10.2
11
11.1
11.2
12
13

Final Expenditures
PFCE
GFCE
GCF
of which:
GFCF
CIS
VALUABLES
Exports of goods and services
Export of goods
Export of services
Less Imports of goods and services
Import of goods
Import of services
Discrepancies
GDP

14
15
16
17
18
19
20
21

Primary income receivable from ROW (net)


GNI(13+14)
NNI (15-5)
Other current transfers (net) from ROW
GNDI(15+17)
NNDI(18-5)
Gross Saving
Net Saving

7
8
9
9.1
9.2
9.3

2011-12

2012-13

2013-14

Gross Saving to GNDI


GCF to GDP
GCF excluding Valuables to GDP
PFCE to NNI

PFCE
GFCE
GFCF
CIS
VALUABLES
Exports of goods and services
Export of goods
Export of services
Less Imports of goods and services
Import of goods
Import of services
Discrepancies

Totals may not tally due to rounding off.

2013-14

9252051
1057442
320953
9988540
1030044
8958496

10477140
1197938
330022
11345056
1148645
10196410

12.9
19.2
28.1
13.1
13.4
13.1

13.2
13.3
2.8
13.6
11.5
13.8

5090822
987220
3370097

5875111
1093130
3659183

6772066
1277467
3662490

15.4
10.7
8.6

15.3
16.9
0.1

2971246
214555
253033
2143931
1466233
677698
2715554
2345463
370091
-113242
8832012

3136364
213719
275497
2439707
1647221
792486
3108428
2669160
439268
63439
9988540

3367856
176227
145451
2854713
1937531
917182
3190352
2715430
474922
-58373
11345056

5.6
-0.4
8.9
13.8
12.3
16.9
14.5
13.8
18.7

7.4
-17.5
-47.2
17.0
17.6
15.7
2.6
1.7
8.1

13.1

13.6

-76824
8755188
7846531
304902
9060090
8151433
2993926
2085269

-116763
9871777
8841733
350081
10221858
9191814
3181263
2151219

-139887
11205169
10056523
395918
11601087
10452441
3475935
2327289

52.0
12.8
12.7
14.8
12.8
12.8
6.3
3.2

19.8
13.5
13.7
13.1
13.5
13.7
9.3
8.2

33.0
38.2
35.3
64.9

31.1
36.6
33.9
66.4

30.0
32.3
31.0
67.3

Rates of Expenditure Components to GDP


26
27
28
29
30
31
31.1
31.2
32
32.1
32.2
33

2012-13

8195546
886969
250503
8832012
908657
7923355

Rates
22
23
24
25

percentage change over


previous year

57.6
11.2
33.6
2.4
2.9
24.3
16.6
7.7
30.7
26.6
4.2
-1.3

58.8
10.9
31.4
2.1
2.8
24.4
16.5
7.9
31.1
26.7
4.4
0.6

59.7
11.3
29.7
1.6
1.3
25.2
17.1
8.1
28.1
23.9
4.2
-0.5

Statement 1.2
Key aggregates of national accounts at constant (2011-12) prices
(` crore)
S.No.

Item

Domestic Product
GVA at basic prices
Taxes on Products including import duties
Less Subsidies on Products
GDP (1+2-3)
CFC
NDP(4-5)

1
2
3
4
5
6

12
13

Final Expenditures
PFCE
GFCE
GCF
of which:
GFCF
CIS
VALUABLES
Exports of goods and services
Export of goods
Export of services
Less Imports of goods and services
Import of goods
Import of services
Discrepancies
GDP

14
15
16

Primary income receivable from ROW(net)


GNI(13+14)
NNI (15-5)

17
18
19

Rates
GCF to GDP
GCF excluding Valuables to GDP
PFCE to NNI

7
8
9
9.1
9.2
9.3
10
10.1
10.2
11
11.1
11.2

2011-12

2012-13

2013-14

9169787
1037006
285687
9921106
1048979
8872127

4.9
10.3
18.6
5.1
7.8
4.8

6.6
6.0
-3.8
6.9
7.1
6.9

5090822
987220
3370097

5370768
1004155
3457083

5704132
1086121
3317928

5.5
1.7
2.6

6.2
8.2
-4.0

2971246
214555
253033
2143931
1466233
677698
2715554
2345463
370091
-113242
8832012

2962726
201262
261353
2286611
1554420
732191
2877291
2471444
405847
39476
9280803

3050236
158211
133975
2453005
1664289
788716
2636313
2227911
408402
-3768
9921106

-0.3
-6.2
3.3
6.7
6.0
8.0
6.0
5.4
9.7

3.0
-21.4
-48.7
7.3
7.1
7.7
-8.4
-9.9
0.6

5.1

6.9

-76824
8755188
7846531

-107878
9172925
8193427

-120293
9800813
8751834

40.4
4.8
4.4

11.5
6.8
6.8

38.2
35.3
64.9

37.2
34.4
65.5

33.4
32.1
65.2

57.5
10.9
30.7
1.6
1.4

24.3
24.6
16.6
16.7
Export of goods
7.7
7.9
Export of services
30.7
31.0
26
Less Imports of goods and services
26.6
26.6
26.1 Import of goods
4.2
4.4
26.2 Import of services
-1.3
0.4
27
Discrepancies
Note: Estimates of Savings and Disposable Income are compiled only at current prices.

24.7
16.8
7.9
26.6
22.5
4.1
0.0

25

Exports of goods and services

25.1
25.2

Totals may not tally due to rounding off.

2013-14

8599224
978603
297024
9280803
979498
8301305

57.9
10.8
31.9
2.2
2.8

PFCE
GFCE
GFCF
CIS
VALUABLES

2012-13

8195546
886969
250503
8832012
908657
7923355

Rates of Expenditure Components to GDP


20
21
22
23
24

Percentage change over


previous year

57.6
11.2
33.6
2.4
2.9

Statement 2
Per Capita Income, Product and Final Consumption
S.No.

Item

2011-12 2012-13 2013-14

Percentage change
over previous year
2012-13 2013-14

Population* (in million)


At current prices (`)
2
Per Capita GDP
3
Per Capita GNI
4
Per Capita NNI
5
Per Capita GNDI
6
Per Capita PFCE
At constant (2011-12) prices(`)
7
Per Capita GDP
8
Per Capita GNI
9
Per Capita NNI
10
Per Capita PFCE
* Relates to mid-financial year

1220

1235

1251

1.2

1.3

72394
71764
64316
74263
41728

80879
79933
71593
82768
47572

90688
89570
80388
92735
54133

11.7
11.4
11.3
11.5
14.0

12.1
12.1
12.3
12.0
13.8

72394
71764
64316
41728

75148
74275
66344
43488

79305
78344
69959
45597

3.8
3.5
3.2
4.2

5.5
5.5
5.4
4.8

Statement 3.1
Output by economic activity and capital formation by industry of use at current prices
2011-12

2012-13

(` crore)
2013-14

Agriculture, forestry and fishing


Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

1953136
447556
1505580
95648
1409932
232107
1226205
-48380
275319
77.1
14.1

2178811
510135
1668676
110196
1558480
253861
1365909
-61290
258869
76.6
11.9

2462737
581585
1881152
127461
1753691
289630
1534730
-70668
278723
76.4
11.3

2
2.1
2.1.1
2.1.2
2.1.2.1
2.1.2.2
2.1.2.2.1
2.1.2.2.2
2.1.2.2.3
2.2
2.3
2.4

Mining and quarrying


Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

443883
181070
262813
31867
230946
62537
164968
3442
66568
59.2
15.0

495246
210475
284771
35785
248986
68454
178856
1676
80845
57.5
16.3

523775
225231
298544
40960
257584
71583
184524
1477
110181
57.0
21.0

3
3.1
3.1.1
3.1.2

Manufacturing
Output
Intermediate consumption
GVA at basic prices

7217642
5735484
1482158

7489106
5835022
1654084

8149048
6340678
1808370

3.1.2.1

CFC

258961

280152

299895

3.1.2.2
3.1.2.2.1
3.1.2.2.2
3.1.2.2.3
3.2
3.3
3.4

NVA at basic prices


CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

1223197
339734
870309
13153
627398
20.5
8.7

1373932
393274
963875
16782
693170
22.1
9.3

1508475
437480
1051611
19384
677322
22.2
8.3

S.No.

Item

1
1.1
1.1.1
1.1.2
1.1.2.1
1.1.2.2
1.1.2.2.1
1.1.2.2.2
1.1.2.2.3
1.2
1.3
1.4

Totals may not tally due to rounding off.

Statement 3.1
Output by economic activity and capital formation by industry of use at current prices
S.No.

2012-13

860989
666586
194403
62365
132038
66201
73829
-7992
286244
22.6
33.2

993620
779794
213826
74340
139486
67537
77067
-5118
323003
21.5
32.5

1122366
878146
244220
86820
157400
72245
86559
-1404
350659
21.8
31.2

2181008
1406914
774093
36540
737553
510240

2258819
1456935
801884
42322
759562
522469

2436206
1567398
868808
47345
821463
559516

5.1.2.2.2 OS/MI

223062

232482

257310

5.1.2.2.3 Production taxes less production subsidies


Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

4251
208502
35.5
9.6

4610
195233
35.5
8.6

4637
191862
35.7
7.9

1318302
435345
882957
45417
837540
214292
614703
8545
204686
67.0
15.5

1545662
499421
1046241
55088
991153
243534
733395
14223
321223
67.7
20.8

1837238
579914
1257324
66248
1191076
290169
880638
20269
406811
68.4
22.1

5
5.1
5.1.1
5.1.2
5.1.2.1
5.1.2.2
5.1.2.2.1

5.2
5.3
5.4

(` crore)
2013-14

2011-12

4
4.1
4.1.1
4.1.2
4.1.2.1
4.1.2.2
4.1.2.2.1
4.1.2.2.2
4.1.2.2.3
4.2
4.3
4.4

6
6.1
6.1.1
6.1.2
6.1.2.1
6.1.2.2
6.1.2.2.1
6.1.2.2.2
6.1.2.2.3
6.2
6.3
6.4

Item
Electricity, gas, water supply and other utility services
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio
Construction
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE

Trade, repair, hotels and restaurants


Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

Totals may not tally due to rounding off.

Statement 3.1
Output by economic activity and capital formation by industry of use at current prices
S.No.

Item

2011-12

2012-13

(` crore)
2013-14

7
7.1
7.1.1
7.1.2
7.1.2.1
7.1.2.2
7.1.2.2.1
7.1.2.2.2
7.1.2.2.3
7.2
7.3
7.4

Transport, storage, communication & services related to


broadcasting
1256845
Output
726682
Intermediate consumption
530163
GVA at basic prices
82603
CFC
447560
NVA at basic prices
206817
CE
255524
OS/MI
-14781
Production taxes less production subsidies
225796
Gross Capital Formation
GVA to Output Ratio
42.2
GCF to Output Ratio
18.0

1426746
812510
614236
92550
521686
231503
305951
-15769
226362
43.1
15.9

1587185
898449
688736
99084
589652
255668
353512
-19528
195466
43.4
12.3

8
8.1
8.1.1
8.1.2
8.1.2.1
8.1.2.2
8.1.2.2.1
8.1.2.2.2
8.1.2.2.3
8.2
8.3
8.4

Financial services
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

650457
170225
480232
7577
472655
133982
338301
372
46164
73.8
7.1

736024
189584
546440
9450
536991
154762
382082
147
43311
74.2
5.9

815151
205687
609464
11345
598119
173563
424397
159
39209
74.8
4.8

9
9.1
9.1.1
9.1.2
9.1.2.1
9.1.2.2
9.1.2.2.1
9.1.2.2.2
9.1.2.2.3
9.2
9.3
9.4

Real estate, ownership of dwelling and professional


services
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

1390484
331142
1059342
154207
905135
260570
615049
29517
835256
76.2
60.1

1640195
378936
1261259
186005
1075254
317039
725682
32533
760031
76.9
46.3

1912101
446942
1465159
213480
1251679
376990
839063
35626
713592
76.6
37.3

Totals may not tally due to rounding off.

Statement 3.1
Output by economic activity and capital formation by industry of use at current prices
2011-12

2012-13

(` crore)
2013-14

674659
182254
492405
85197
407208
407208
0
0
261548
73.0
38.8

731660
177285
554375
91313
463062
463062
0
0
283701
75.8
38.8

744084
113584
630500
98190
532310
532310
0
0
374433
84.7
50.3

Other Services
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

763564
232165
531398
48273
483125
340383
141722
1020
148320
69.6
19.4

871274
265015
606259
52842
553417
381198
171101
1118
164336
69.6
18.9

1039013
314151
724862
57816
667046
448766
218165
115
205824
69.8
19.8

Total
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

18710969
10515423
8195546
908657
7286889
2774071
4523670
-10852
3185801
43.8
17.0

20367163
11115112
9252051
1030044
8222007
3096693
5136402
-11087
3350084
45.4
16.4

22628904
12151765
10477140
1148645
9328494
3507919
5830509
-9934
3544083
46.3
15.7

S.No.
10
10.1
10.1.1
10.1.2
10.1.2.1
10.1.2.2
10.1.2.2.1
10.1.2.2.2
10.1.2.2.3
10.2
10.3
10.4

Item
Public administration and defence
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
CE
OS/MI
Production taxes less production subsidies
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

11
11.1
11.1.1
11.1.2
11.1.2.1
11.1.2.2
11.1.2.2.1
11.1.2.2.2
11.1.2.2.3
11.2
11.3
11.4
12
12.1
12.1.1
12.1.2
12.1.2.1
12.1.2.2
12.1.2.2.1
12.1.2.2.2
12.1.2.2.3
12.2
12.3
12.4

Totals may not tally due to rounding off.

Statement 3.2
Output by economic activity and capital formation by industry of use at constant (2011-12) prices
2011-12

2012-13

(` crore)
2013-14

1953136
447556
1505580
95648
1409932
275319
77.1
14.1

1972789
449319
1523470
102239
1421231
239778
77.2
12.2

2044019
464729
1579290
108662
1470628
238976
77.3
11.7

Mining and quarrying


Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

443883
181070
262813
31867
230946
66568
59.2
15.0

457458
195205
262253
34070
228183
76150
57.3
16.6

479957
203577
276380
37126
239254
97909
57.6
20.4

Manufacturing
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

7217642
5735484
1482158
258961
1223197
627398
20.5
8.7

7088458
5513987
1574471
269428
1305043
664132
22.2
9.4

7389934
5731758
1658176
279408
1378768
628053
22.4
8.5

860989
666586
194403
62365
132038
286244
22.6
33.2

899615
697391
202224
71651
130573
310892
22.5
34.6

941918
730072
211846
81170
130676
326130
22.5
34.6

S.No.

Item

1
1.1
1.1.1
1.1.2
1.1.2.1
1.1.2.2
1.2
1.3
1.4

Agriculture, forestry and fishing


Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

2
2.1
2.1.1
2.1.2
2.1.2.1
2.1.2.2
2.2
2.3
2.4
3
3.1
3.1.1
3.1.2
3.1.2.1
3.1.2.2
3.2
3.3
3.4

4
4.1
4.1.1
4.1.2
4.1.2.1
4.1.2.2
4.2
4.3
4.4

Electricity, gas, water supply and other utility services


Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

Totals may not tally due to rounding off.

Statement 3.2
Output by economic activity and capital formation by industry of use at constant (2011-12) prices
2011-12

2012-13

(` crore)
2013-14

Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

2181008
1406914
774093
36540
737553
208502
35.5
9.6

2089454
1348936
740518
40377
700141
184441
35.4
8.8

2137045
1378158
758887
43973
714914
176299
35.5
8.2

6
6.1
6.1.1
6.1.2
6.1.2.1
6.1.2.2
6.2
6.3
6.4

Trade, repair, hotels and restaurants


Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

1318302
435345
882957
45417
837540
204686
67.0
15.5

1429704
455904
973800
51926
921874
300760
68.1
21.0

1620558
517026
1103532
60048
1043484
364400
68.1
22.5

7
7.1
7.1.1
7.1.2
7.1.2.1
7.1.2.2
7.2
7.3
7.4

Transport, storage, communication & services related to


broadcasting
1256845
Output
726682
Intermediate consumption
530163
GVA at basic prices
82603
CFC
447560
NVA at basic prices
225796
Gross Capital Formation
GVA to Output Ratio
42.2
GCF to Output Ratio
18.0

1329518
754579
574939
88848
486091
216644
43.2
16.3

1395673
778692
616981
92260
524721
181083
44.2
13.0

8
8.1
8.1.1
8.1.2
8.1.2.1
8.1.2.2
8.2
8.3
8.4

Financial services
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

690056
177743
512313
9161
503152
41621
74.2
6.0

729074
183967
545107
10826
534281
37210
74.8
5.1

S.No.

5
5.1
5.1.1
5.1.2
5.1.2.1
5.1.2.2
5.2
5.3
5.4

Item
Construction

Totals may not tally due to rounding off.

650457
170225
480232
7577
472655
46164
73.8
7.1

Statement 3.2
Output by economic activity and capital formation by industry of use at constant (2011-12) prices
2011-12

2012-13

(` crore)
2013-14

1390484
331142
1059342
154207
905135
835256
76.2
60.1

1516081
352989
1163092
173688
989404
709007
76.7
46.8

1654333
392102
1262231
190774
1071457
636539
76.3
38.5

Public administration and defence


Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

674659
182254
492405
85197
407208
261548
73.0
38.8

674630
166682
507948
87747
420201
265961
75.3
39.4

634055
101459
532596
91431
441165
335836
84.0
53.0

11
11.1
11.1.1
11.1.2
11.1.2.1
11.1.2.2

Other Services
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices

763564
232165
531398
48273
483125

809341
245145
564196
50362
513834

893522
268761
624761
53300
571461

11.2

Gross Capital Formation

148320

154601

186010

11.3
11.4

GVA to Output Ratio


GCF to Output Ratio

69.6
19.4

69.7
19.1

69.9
20.8

12
12.1
12.1.1
12.1.2
12.1.2.1
12.1.2.2
12.2
12.3
12.4

Total
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

18710969
10515423
8195546
908657
7286889
3185801
43.8
17.0

18957104
10357880
8599224
979498
7619726
3163987
45.4
16.7

19920088
10750302
9169787
1048979
8120808
3208447
46.0
16.1

S.No.

Item

9
9.1
9.1.1
9.1.2
9.1.2.1
9.1.2.2
9.2
9.3
9.4

Real estate, ownership of dwelling and professional


services
Output
Intermediate consumption
GVA at basic prices
CFC
NVA at basic prices
Gross Capital Formation
GVA to Output Ratio
GCF to Output Ratio

10
10.1
10.1.1
10.1.2
10.1.2.1
10.1.2.2
10.2
10.3
10.4

Totals may not tally due to rounding off.

Statement 4.1
Gross value added by economic activity at current basic prices
(` crore)
S.No.
1.
1.1
1.2
1.3
1.4
2.
3.

Item
Agriculture, forestry and fishing
crops
livestock
forestry and logging
fishing and aquaculture
Mining and quarrying
Manufacturing

2011-12

2012-13

Percentage Share

2013-14

1505580
986604
324013
129105
65858
262813
1482158

1668676
1080421
367318
142886
78051
284771
1654084

1881152
1233595
406035
144698
96824
298544
1808370

2011-12
18.4
12.0
4.0
1.6
0.8
3.2
18.1

2012-13
18.0
11.7
4.0
1.5
0.8
3.1
17.9

2013-14
18.0
11.8
3.9
1.4
0.9
2.8
17.3

3.1

Food Products, Beverages and Tobacco

164211

171900

186611

2.0

1.9

1.8

3.2
3.3
3.4
3.5

Textiles, Apparel and Leather Products


Metal Products
Machinery and Equipment
Other Manufactured Goods
Electricity, gas, water supply & other
utility services
Construction
Trade, repair, hotels and restaurants
Trade & repair services
Hotels & restaurants
Transport, storage, communication &
services related to broadcasting
Railways
Road transport
Water transport
Air transport
Services incidental to transport
Storage
Communication & services related to
broadcasting
Financial services
Real estate, ownership of dwelling &
professional services
Public administration and defence
Other services
TOTAL GVA at basic prices

149695
294827
316486
556939

197622
237157
364953
682452

222320
251563
401305
746571

1.8
3.6
3.9
6.8

2.1
2.6
3.9
7.4

2.1
2.4
3.8
7.1

194403

213826

244220

2.4

2.3

2.3

774093
882957
792996
89962

801884
1046241
946401
99840

868808
1257324
1147274
110050

9.4
10.8
9.7
1.1

8.7
11.3
10.2
1.1

8.3
12.0
11.0
1.1

530163

614236

688736

6.5

6.6

6.6

61210
260888
7193
4454
63573
5292

72386
303132
7468
7989
72205
6254

79759
334086
7664
6621
76583
6844

0.7
3.2
0.1
0.1
0.8
0.1

0.8
3.3
0.1
0.1
0.8
0.1

0.8
3.2
0.1
0.1
0.7
0.1

127553

144802

177179

1.6

1.6

1.7

480232

546440

609464

5.9

5.9

5.8

1059342

1261259

1465159

12.9

13.6

14.0

492405
531398
8195546

554375
606259
9252051

630500
724862
10477140

6.0
6.5
100.0

6.0
6.6
100.0

6.0
6.9
100.0

4.
5.
6.
6.1
6.2
7.
7.1
7.2
7.3
7.4
7.5
7.6
7.7
8.
9.
10.
11.
12.

Totals may not tally due to rounding off.

Statement 4.2
Gross value added by economic activity at constant (2011-12) basic prices
(` crore)
S.No.
1.
1.1
1.2
1.3
1.4
2.
3.

Item
Agriculture, forestry and fishing
crops
livestock
forestry and logging
fishing and aquaculture
Mining and quarrying
Manufacturing

2011-12

2012-13

2013-14

1505580
986604
324013
129105
65858
262813
1482158

1523470
985194
340661
128160
69455
262253
1574471

1579290
1017921
359312
128550
73507
276380
1658176

percentage change over


previous year
2012-13
2013-14
1.2
3.7
-0.1
3.3
5.1
5.5
-0.7
0.3
5.5
5.8
-0.2
5.4
6.2
5.3

3.1

Food Products, Beverages and Tobacco

164211

160960

167084

-2.0

3.8

3.2
3.3
3.4
3.5

Textiles, Apparel and Leather Products


Metal Products
Machinery and Equipment
Other Manufactured Goods
Electricity, gas, water supply & other
utility services
Construction
Trade, repair, hotels and restaurants
Trade & repair services
Hotels & restaurants
Transport, storage, communication &
services related to broadcasting
Railways
Road transport
Water transport
Air transport
Services incidental to transport
Storage
Communication & services related to
broadcasting
Financial services
Real estate, ownership of dwelling &
professional services
Public administration and defence
Other services
TOTAL GVA at basic prices

149695
294827
316486
556939

193215
223142
353540
643614

205338
238557
377882
669315

29.1
-24.3
11.7
15.6

6.3
6.9
6.9
4.0

194403

202224

211846

4.0

4.8

774093
882957
792996
89962

740518
973800
880867
92933

758887
1103532
1006951
96581

-4.3
10.3
11.1
3.3

2.5
13.3
14.3
3.9

530163

574939

616981

8.4

7.3

61210
260888
7193
4454
63573
5292

72249
280365
7417
4192
69153
5928

78940
294326
7671
4444
71771
6011

18.0
7.5
3.1
-5.9
8.8
12.0

9.3
5.0
3.4
6.0
3.8
1.4

127553

135635

153818

6.3

13.4

480232

512313

545107

6.7

6.4

1059342

1163092

1262231

9.8

8.5

492405
531398
8195546

507948
564196
8599224

532596
624761
9169787

3.2
6.2
4.9

4.9
10.7
6.6

4.
5.
6.
6.1
6.2
7.
7.1
7.2
7.3
7.4
7.5
7.6
7.7
8.
9.
10.
11.
12.

Totals may not tally due to rounding off.

Statement 5
Finances for Gross Capital Formation
S.No.
1

Item
Gross Savings

(` crore)
2013-14

Percentage Share
2011-12 2012-13 2013-14
2993926 3181263 3475935
88.8
86.9
94.9

2011-12

2012-13

1.1
1.1.1
1.1.1.1
1.1.1.2
1.1.2

Non-financial corporations
Public non-financial corporations
Departmental enterprises
Non-departmental enterprises
Private non-financial corporations

877386
122853
24769
98084
754532

978732 1200632
124619 120540
31253
32150
93366
88390
854113 1080092

1.2
1.2.1
1.2.1.1
1.2.1.2
1.2.2

Financial corporations
Public financial corporations
Departmental enterprises
Non-departmental enterprises
Private financial corporations

262905
163313
4285
159028
99592

314424
172607
5173
167434
141817

1.3

General Government

-160978

-128016

1.4
1.4.1
1.4.2
1.4.3
1.4.4

Household sector
Gross financial saving
Less Financial liabilities
saving in physical assets
saving in the form of valuables

net capital inflow from ROW

finances for gross capital formation (1+2)

Totals may not tally due to rounding off.

26.0
3.6
0.7
2.9
22.4

26.7
3.4
0.9
2.6
23.3

32.8
3.3
0.9
2.4
29.5

321752
170220
5475
164745
151532

7.8
4.8
0.1
4.7
3.0

8.6
4.7
0.1
4.6
3.9

8.8
4.6
0.1
4.5
4.1

-111628

-4.8

-3.5

-3.0

2014613 2016122 2065179


933543 1024452 1279254
290117 330218 459804
1337552 1284620 1212302
33635
37267
33427

59.8
27.7
8.6
39.7
1.0

55.1
28.0
9.0
35.1
1.0

56.4
34.9
12.6
33.1
0.9

186555

11.2

13.1

5.1

3370097 3659183 3662490

100.0

100.0

100.0

376171

477920

Statement 6.1
Gross Capital Formation by industry of use at current prices
(` crore)
S.No.

Item

2011-12 2012-13 2013-14

Percentage Share
2011-12 2012-13 2013-14

1.
1.1
1.2
1.3
1.4
2.
3.

8.6
7.7
7.9
Agriculture, forestry and fishing
7.4
6.5
6.6
crops
0.8
0.7
0.7
livestock
0.1
0.1
0.1
forestry and logging
0.4
0.4
0.5
fishing and aquaculture
2.1
2.4
3.1
Mining and quarrying
19.7
20.7
19.1
Manufacturing
Electricity, gas, water supply & other
4.
286244 323003 350659
9.0
9.6
9.9
utility services
5.
Construction
208502 195233 191862
6.5
5.8
5.4
6.
Trade, repair, hotels and restaurants
204686 321223 406811
6.4
9.6
11.5
6.1
Trade & repair services
169512 289596 373976
5.3
8.6
10.6
6.2
Hotels & restaurants
35174
31628
32835
1.1
0.9
0.9
Transport, storage, communication &
7.
225796 226362 195466
7.1
6.8
5.5
services related to broadcasting
7.1
Railways
31382
37169
41139
1.0
1.1
1.2
7.2
Road transport
96146
84069
56020
3.0
2.5
1.6
7.3
Water transport
7366
7204
911
0.2
0.2
0.0
7.4
Air transport
6284
5798
1670
0.2
0.2
0.0
7.5
Services incidental to transport
16327
27784
27016
0.5
0.8
0.8
7.6
Storage
6709
3421
5648
0.2
0.1
0.2
Communication & services related to
7.7
61582
60915
63062
1.9
1.8
1.8
broadcasting
8.
Financial services
46164
43311
39209
1.4
1.3
1.1
Real estate, ownership of dwelling &
9.
835256 760031 713592
26.2
22.7
20.1
professional services
10.
Public administration and defence
261548 283701 374433
8.2
8.5
10.6
11.
Other services
148320 164336 205824
4.7
4.9
5.8
3185801 3350084 3544083 100.0
100.0
100.0
12.
Total GCF by industry of use*
* This does not include valuables and adjustment factor from flow of funds and hence will not match with GCF,
reported in Statement 1.1

Totals may not tally due to rounding off.

275319
235370
25800
2223
11927
66568
627398

258869
217709
24955
2235
13971
80845
693170

278723
234080
25042
2813
16787
110181
677322

Statement 6.2
Gross Capital Formation by industry of use at constant (2011-12) prices
(` crore)
S.No.

Item

2011-12

2012-13 2013-14

percentage change
over previous year
2012-13 2013-14

1.
1.1
1.2
1.3
1.4
2.
3.

-12.9
-0.3
Agriculture, forestry and fishing
-14.3
-0.8
crops
-11.2
-4.3
livestock
-6.7
18.8
forestry and logging
10.3
11.1
fishing and aquaculture
14.4
28.6
Mining and quarrying
5.9
-5.4
Manufacturing
Electricity, gas, water supply & other
4.
286244
310892 326130
8.6
4.9
utility services
5.
Construction
208502
184441 176299
-11.5
-4.4
6.
Trade, repair, hotels and restaurants
204686
300760 364400
46.9
21.2
6.1
Trade & repair services
169512
271070 334811
59.9
23.5
6.2
Hotels & restaurants
35174
29690
29589
-15.6
-0.3
Transport, storage, communication &
7.
225796
216644 181083
-4.1
-16.4
services related to broadcasting
7.1
Railways
31382
34825
36761
11.0
5.6
7.2
Road transport
96146
80150
51450
-16.6
-35.8
7.3
Water transport
7366
6990
622
-5.1
-91.1
7.4
Air transport
6284
5568
1539
-11.4
-72.4
7.5
Services incidental to transport
16327
26415
24973
61.8
-5.5
7.6
Storage
6709
3195
5013
-52.4
56.9
Communication & services related to
7.7
61582
59500
60725
-3.4
2.1
broadcasting
8.
Financial services
46164
41621
37210
-9.8
-10.6
Real estate, ownership of dwelling &
9.
835256
709007 636539
-15.1
-10.2
professional services
10.
Public administration and defence
261548
265961 335836
1.7
26.3
11.
Other services
148320
154601 186010
4.2
20.3
3185801 3163987 3208447
-0.7
1.4
12.
Total GCF by industry of use*
* This does not include valuables and adjustment factor from flow of funds and hence will not match with GCF,
reported in Statement 1.2

Totals may not tally due to rounding off.

275319
235370
25800
2223
11927
66568
627398

239778
201629
22917
2073
13159
76150
664132

238976
199959
21931
2462
14624
97909
628053

Statement 7.1
Gross Fixed Capital Formation by asset & institutional sector at current prices
S.No.

Item
Gross Fixed Capital Formation

2011-12

2012-13

(` crore)
2013-14

2971246

3136364

3367856

Percentage Share
2011-12
2012-13
2013-14
100
100
100

1
1.1
1.2
1.3
1.4

Public Non-Financial Corporations


Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

332240
139114
165977
199
26950

345859
144361
167999
237
33261

403294
169747
184621
251
48674

11.2
4.7
5.6
0
0.9

11.0
4.6
5.4
0
1.1

12.0
5.0
5.5
0
1.4

2
2.1
2.2
2.3
2.4

Private Non-Financial Corporations


Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

958217
251735
607543
1169
97769

1144400
342219
698358
1287
102537

1256228
411877
725187
1389
117774

32.2
8.5
20.4
0
3.3

36.5
10.9
22.3
0
3.3

37.3
12.2
21.5
0
3.5

3
3.1
3.2
3.3
3.4

Public Financial Corporations


Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

8428
2220
6048
0
160

10385
2426
7675
0
284

11976
3207
8496
0
273

0.3
0.1
0.2
0
0

0.3
0.1
0.2
0
0

0.4
0.1
0.3
0
0

4
4.1
4.2
4.3
4.4

Private Financial Corporations


Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

27970
11193
10193
9
6576

29954
13850
10946
26
5132

32052
14910
10847
28
6267

0.9
0.4
0.3
0
0.2

1.0
0.4
0.3
0
0.2

1.0
0.4
0.3
0
0.2

5
5.1
5.2
5.3
5.4

General Government
Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

316117
235448
68484
157
12028

342443
260713
68512
145
13073

465501
363553
86779
676
14493

10.6
7.9
2.3
0
0.4

10.9
8.3
2.2
0
0.4

13.8
10.8
2.6
0
0.4

Household Sector
1328274
1263323
Dwellings, Other buildings & Structures
1122548
1062363
Machinery & equipment
200038
196051
Cultivated biological resources
5629
4825
Intellectual property products
59
84
Figures in parentheses indicate share in the concerned institutional sector

1198806
1009853
183932
4955
66

44.7
37.8
6.7
0.2
0

40.3
33.9
6.3
0.2
0

35.6
30.0
5.5
0.1
0

6.1
6.2
6.3
6.4

Totals may not tally due to rounding off.

Statement 7.2
Gross Fixed Capital Formation by asset & institutional sector at constant (2011-12) prices
S.No.

Item
Gross Fixed Capital Formation

2011-12

2012-13

(` crore)
2013-14

2971246

2962726

3050236

1
1.1
1.2
1.3
1.4

Public Non-Financial Corporations


Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

332240
139114
165977
199
26950

327161
132914
163856
216
30175

362636
146128
176035
204
40269

2
2.1
2.2
2.3
2.4

Private Non-Financial Corporations


Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

958217
251735
607543
1169
97769

1099809
316794
682491
1197
99327

1170457
362668
693598
1232
112959

3
3.1
3.2
3.3
3.4

Public Financial Corporations


Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

8428
2220
6048
0
160

10117
2246
7589
0
282

11433
2825
8335
0
272

4
4.1
4.2
4.3
4.4

Private Financial Corporations


Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

27970
11193
10193
9
6576

28737
12823
10806
24
5084

30012
13133
10598
25
6256

5
5.1
5.2
5.3
5.4

General Government
Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

316117
235448
68484
157
12028

320816
241371
67090
131
12224

417165
320219
83466
550
12931

Household Sector
Dwellings, Other buildings & Structures
Machinery & equipment
Cultivated biological resources
Intellectual property products

1328274
1122548
200038
5629
59

1176086
981528
190112
4362
84

1058533
880646
173515
4306
66

6.1
6.2
6.3
6.4

Totals may not tally due to rounding off.

Statement 8.1
Private Final Consumption Expenditure at Current Prices
(` crore)
S.No.

Item

2011-12

2012-13

2013-14

Percentage Share
2011-12

2012-13

2013-14

Private Final Consumption Expenditure


1.
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
1.1
1.11
1.12
2.
2.1
2.2
2.3
2.4
3.
4.1
4.2
5.

By purpose
Food and non-alcoholic beverages
Alcoholic beverages, tobacco and narcotics
Clothing and footwear
Housing, water, electricity, gas and other fuels
Furnishings, household equipment and routine
household maintenance
Health
Transport
Communication
Recreation and culture
Education
Restaurants and hotels
Miscellaneous goods and services
By durability
Durable goods
Semi-durable goods
Non-durable goods
Services
Private Final Consumption Expenditure in
domestic market
Final consumption expenditure of resident
households in the rest of the world
Final consumption expenditure of non-resident
households in the economic territory
Private Final Consumption Expenditure (3+4.14.2)

Totals may not tally due to rounding off.

1492455
158311
357504

1758536
159751
411826

2079916
175854
456457

29.2
3.1
7.0

29.7
2.7
7.0

30.5
2.6
6.7

770788

862486

1000566

15.1

14.6

14.7

182432

226315

266069

3.6

3.8

3.9

181334
761608
98012
56273
137067
116644
803942

220931
891162
110846
60701
156437
129186
923609

261209
982240
127287
66378
187785
156100
1052533

3.5
14.9
1.9
1.1
2.7
2.3
15.7

3.7
15.1
1.9
1.0
2.6
2.2
15.6

3.8
14.4
1.9
1.0
2.8
2.3
15.5

165686
442110
2118750
2389826

214075
502097
2475754
2719859

237598
551315
2856894
3166587

3.2
8.6
41.4
46.7

3.6
8.5
41.9
46.0

3.5
8.1
41.9
46.5

5116371

5911785

6812394

100.0

100.0

100.0

65906

64333

71426

+1.3

+1.1

+1

91455

101007

111754

-1.8

-1.7

-1.6

5090822

5875111

6772066

99.5

99.4

99.4

Statement 8.2
Private Final Consumption Expenditure at Constant (2011-12) Prices
(` crore)
S.No.

Item

2011-12

2012-13

2013-14

percentage change
over previous year

2012-13

2013-14

Private Final Consumption Expenditure


1.
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
1.1
1.11
1.12
2.
2.1
2.2
2.3
2.4
3.
4.1
4.2
5.

By purpose
Food and non-alcoholic beverages
Alcoholic beverages, tobacco and narcotics
Clothing and footwear
Housing, water, electricity, gas and other fuels
Furnishings, household equipment and routine
household maintenance
Health
Transport
Communication
Recreation and culture
Education
Restaurants and hotels
Miscellaneous goods and services
By durability
Durable goods
Semi-durable goods
Non-durable goods
Services
Private Final Consumption Expenditure in
domestic market
Final consumption expenditure of resident
households in the rest of the world
Final consumption expenditure of non-resident
households in the economic territory
Private Final Consumption Expenditure (3+4.14.2)

Totals may not tally due to rounding off.

1492455
158311
357504

1574878
143849
372629

1696626
143808
376674

5.5
-9.1
4.2

7.7
0.0
1.1

770788

810985

849348

5.2

4.7

182432

215665

239061

18.2

10.8

181334
761608
98012
56273
137067
116644
803942

207641
783230
103745
56901
145786
120330
869289

230829
825751
111475
58714
161515
137162
908614

14.5
2.8
5.8
1.1
6.4
3.2
8.1

11.2
5.4
7.5
3.2
10.8
14.0
4.5

165686
442110
2118750
2389826

202603
458481
2195039
2548805

220750
463820
2331983
2723024

22.3
3.7
3.6
6.7

9.0
1.2
6.2
6.8

5116371

5404928

5739577

5.6

6.2

65906

59923

62777

-9.1

4.8

91455

94083

98222

2.9

4.4

5090822

5370768

5704132

5.5

6.2

Statement 9
Institutional Sectors Key economic indicators at current prices
Item

2011-12

2012-13

(` crore)
2013-14

1.1
1.2
1.3
1.4

Public non-financial corporations


Gross Value Added at basic prices
Gross Savings
Gross Capital Formation
Consumption of Fixed Capital

627456
122853
347393
131353

673807
124619
363076
144970

725889
120540
423410
159956

2.1
2.2
2.3
2.4

Private non-financial corporations


Gross Value Added at basic prices
Gross Savings
Gross Capital Formation
Consumption of Fixed Capital

2613832
754532
1136120
346443

2979097
854113
1313113
392580

3407205
1080092
1402500
439181

3.1
3.2
3.3
3.4

Public Financial corporations


Gross Value Added at basic prices
Gross Savings
Gross Capital Formation
Consumption of Fixed Capital

249805
163313
8428
3207

272612
172607
10385
3576

314398
170220
11976
3951

4.1
4.2
4.3
4.4

Private Financial corporations


Gross Value Added at basic prices
Gross Savings
Gross Capital Formation
Consumption of Fixed Capital

230427
99592
37735
4370

273828
141817
32925
5874

295066
151532
27234
7394

5.1
5.2
5.3
5.4
5.5
5.6

General Government
Gross Value Added at basic prices
Gross Disposable Income
Final Consumption Expenditure
Gross Savings
Gross Capital Formation
Consumption of Fixed Capital

794975
826242
987220
-160978
318574
99852

888044
965114
1093130
-128016
345965
107719

1019989
1165839
1277467
-111628
466662
116787

6.1
6.2
6.3
6.4
6.5
6.6

Households including NPISH


Gross Value Added at basic prices
Gross Disposable Income
Final Consumption Expenditure
Gross Savings
Gross Capital Formation
Consumption of Fixed Capital

3679050
7093557
5090822
2014613
1337552
323432

4164663
7963587
5875111
2016122
1284620
375326

4714592
8912864
6772066
2065179
1212302
421376

S.No.
1

Totals may not tally due to rounding off.

Statement 10.1
Gross Value Added at factor cost by economic activity at current prices
(` crore)
S.No.
1.
2.
3.
4.
5.
6.
7.

8.
9.
10.
11.
12.

Item

2011-12 2012-13

2013-14

Percentage Share

Agriculture, forestry and fishing


Mining and quarrying
Manufacturing
Electricity, gas, water supply & other utility
services
Construction
Trade, repair, hotels and restaurants
Transport, storage, communication & services
related to broadcasting
Financial services
Real estate, ownership of dwelling &
professional services
Public administration and defence
Other services
TOTAL GVA at factor cost

1553960 1729966
259371 283095
1469005 1637302

1951820
297067
1788986

2011-12 2012-13 2013-14


18.9
18.7
18.6
3.2
3.1
2.8
17.9
17.7
17.1

202395

218944

245624

2.5

2.4

2.3

769842
874412

797274
1032018

864171
1237055

9.4
10.7

8.6
11.1

8.2
11.8

544944

630005

708264

6.6

6.8

6.8

479860

546294

609305

5.8

5.9

5.8

1029826 1228726

1429533

12.5

13.3

13.6

492405 554375
630500
530378 605141
724747
8206398 9263138 10487074

6.0
6.5
100.0

6.0
6.5
100.0

6.0
6.9
100.0

Statement 10.2
Gross Value Added at factor cost by economic activity at constant (2011-12) prices
(` crore)
S.No.

1.
2.
3.
4.
5.
6.
7.

8.
9.
10.
11.
12.

percentage change
over previous year

Item

2011-12

2012-13

2013-14

Agriculture, forestry and fishing


Mining and quarrying
Manufacturing
Electricity, gas, water supply & other utility
services
Construction
Trade, repair, hotels and restaurants
Transport, storage, communication & services
related to broadcasting
Financial services
Real estate, ownership of dwelling &
professional services
Public administration and defence
Other services
TOTAL GVA at factor cost

1553960 1580362
259371 260697
1469005 1558893

1640869
275093
1641285

202395

206975

213069

2.3

2.9

769842
874412

736239
960597

754847
1085870

-4.4
9.9

2.5
13.0

544944

589576

633997

8.2

7.5

479860

512177

544969

6.7

6.4

1029826 1132894

1231187

10.0

8.7

492405 507948
530378 563158
8206398 8609516

532596
624661
9178444

3.2
6.2
4.9

4.9
10.9
6.6

Totals may not tally due to rounding off.

2012-13 2013-14
1.7
3.8
0.5
5.5
6.1
5.3

NOTES ON THE STATEMENTS


ACRONYMS USED IN THE PRESS RELEASE
GDP: Gross Domestic Product
GVA: Gross Value Added
GNI: Gross National Income
NDP: Net Domestic Product
NNI: Net National Income
GNDI: Gross National Disposable Income
PFCE: Private Final Consumption Expenditure
GFCE: Government Final Consumption Expenditure

CFC: Consumption of Fixed Capital


GFCF: Gross Fixed Capital Formation
CIS: Changes in Stock
CE:
Compensation of Employees
OS:
Operating Surplus
MI:
Mixed Income
ROW: Rest of the World

FORMULAE
1. GVA at basic prices = CE + OS/MI + CFC + Production taxes less Production subsidies
2. GVA at factor cost (earlier referred to as GDP at factor cost) = GVA at basic prices Production taxes
less Production subsidies
3. GDP = GVA at basic prices + Product taxes - Product subsidies
4. NDP/NNI = GDP/GNI - CFC
5. GNI = GDP + Net primary income from ROW (Receipts less payments)
6. Primary Incomes = CE + Property and Entrepreneurial Income
7. NNDI =NNI + other current transfers from ROW, net (Receipts less payments)
8. GNDI = NNDI + CFC = GNI + other current transfers from ROW, net (Receipts less payments)
9. Gross Capital Formation= Gross Savings+ Net Capital Inflow from ROW
10. GCF = GFCF + CIS + Valuables + Errors and Omissions
11. Gross Disposable Income of Govt. = GFCE + Gross Saving of GG
12. Gross Disposable Income 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
the volume of actual production. Some examples are:
Production Taxes - Land Revenues, Stamps and Registration fees and Tax on profession
Production Subsidies - Subsidies to Railways, Input subsidies to farmers, Subsidies to village and small
industries, Administrative subsidies to corporations or cooperatives, etc.
3. Product taxes or subsidies are paid or received on per unit of product. Some examples are:
Product Taxes: Excise Tax, Sales tax, Service Tax and Import and Export duties
Product Subsidies: Food, Petroleum and fertilizer subsidies, Interest subsidies given to farmers,
households etc through banks, Subsidies for providing insurance to households at lower rates
8. Other Current Transfers refers to current transfers other than the primary incomes
9. Estimate of GCF derived from this formula is taken as the firmer estimate and the difference between
this estimate and the sum of GFCF, CIS and valuables is taken as errors and omissions, as referred
in 10 above.

Annex

CHANGES IN THE NEW SERIES OF NATIONAL ACCOUNTS

The changes introduced in this comprehensive revision have been guided by the
recommendations of the international guidelines on the subject, System of National Accounts,
2008. Major changes that have been made in this series are outlined as under:
Comprehensive coverage of Corporate Sector both in manufacturing and services by
incorporation of annual accounts of companies as filed with the Ministry of Corporate
Affairs (MCA) under their e-governance initiative, MCA21. Partnership firms covered
under Limited Liability Partnership Act have also been covered. For the manufacturing
enterprises, MCA21 database has been used to supplement the information available in the
Annual Survey of Industries.
Improved coverage of activities of local bodies both rural and urban and autonomous
institutions, resulting in better coverage of government activities.
Incorporation of the results of the recent NSS Surveys, viz., Unincorporated Enterprise
Survey (2010-11) and Employment-Unemployment Survey (2011-12), alongwith the
adoption of an Effective Labour Input Method for unincorporated manufacturing and
services enterprises, giving due weights to different categories of workers, i.e., owners,
hired workers and helpers, for compiling the estimates of these enterprises.
Apart from the above-mentioned major changes, specific changes have also been made in the
following industries/sectors:
Agriculture, forestry and fishing
i. Segregation of crop and livestock production;
ii. Adoption of Agriculture Census (2010-11) and Livestock Census (2012);
iii. Revision of yield rates of meat & by-products of different livestock species based on study
conducted by National Research Centre on Meat, Hyderabad.
Mining & manufacturing
i. Estimation of value addition from extraction of sand through an indirect method, in
accordance with its use in construction;
ii. Enterprise Approach adopted for mining and manufacturing activity using MCA21
database to account for head offices, ancillary activities, etc. not covered under the
establishment approach.
Electricity, gas, water supply & other utility services
i. Utility services, including sewage, waste management, recycling and remediation activities,
brought under the group electricity, gas and water supply;
Construction
i. Study on the inputs in the Construction sector by Central Building Research Institute
(CBRI), Roorkee
ii. Incorporation of results of NSS All India Debt & Investment Survey, 2013
Non-financial Services

i. Use of Consumer Price Indices-Rural, Urban and Combined, instead of the CPI-AL/RL/IW
being used earlier;
ii. Use of Service Tax as an indicator for growth in the respective service (s)
Financial Services
i. Comprehensive coverage of financial sector by inclusion of information from the accounts
of stock brokers, stock exchanges, asset management companies, mutual funds and pension
funds, as well as the regulatory bodies, SEBI, PFRDA and IRDA;
In addition to the industry specific changes stated above, changes have been made in estimation
of the expenditure side aggregates:
i.
In the asset-classification, a new category of investment, intellectual property products
(IPPs) consists of research and development; mineral exploration; databases and software;
other IPPs - IPPs are recognised in the business accounts as Intellectual Capital;
ii. Comprehensive coverage of physical assets by inclusion of valuables purchased by
households as savings under household savings in physical assets;
iii. For the key aggregates, estimates have been provided by institutional sectors
Public/Private Financial and Non-financial Corporations, General Government and
Households;
iv. Updation of expenditure pattern of the households using NSS Consumer Expenditure
Survey (2011-12);
v. Updation of wastage ratios of crops and livestock products using a study conducted by
Central Institute of Post-Harvest Engineering and Technology (CIPHET), Ludhiana on
Harvest and Post-harvest losses of major crops and livestock products in India
vi. Improvement in estimates of values and service lives of assets; and
vii. Classification of indirect taxes and subsidies as production and product.
Effect of improvement on major aggregates
The improvements in methodology for estimation and the new and revised source data
incorporated as part of this comprehensive revision have notable effects on the national accounts
statistics without changing broad economic trends. The level of revisions in the major aggregates is
given below in Table 1.
Table 1
Changes at the aggregate level
(Amount in Rs. lakh crore)
S.No. Item

2011-12

2012-13

2013-14

2011-12 2004-05
%
2011-12 2004-05
%
Series
Series change Series
Series change

2011-12 2004-05
%
Series
Series change

GVA at factor cost

82.1

83.9

-2.2

92.6

93.9

-1.3

104.9

104.7

0.2

GVA at basic prices

82.0

85.4

-4.0

92.5

95.6

-3.2

104.8

GDP

88.3

90.1

-2.0

99.9

101.1

-1.2

113.5

113.6

-0.1

GNI

87.6

89.3

-2.0

98.7

100.0

-1.2

112.1

112.3

-0.2

NNI

78.5

80.5

-2.6

88.4

89.8

-1.5

100.6

100.5

0.0

(Amount in Rs. lakh crore)


S.No. Item

2011-12

2012-13

2013-14

2011-12 2004-05
%
2011-12 2004-05
%
Series
Series change Series
Series change

2011-12 2004-05
%
Series
Series change

GNDI

90.6

92.4

-1.9

102.2

103.5

-1.2

116.0

116.1

0.0

Gross Savings

29.9

28.2

6.0

31.8

30.4

4.5

34.8

PFCE

50.9

51.4

-1.0

58.8

57.7

1.8

67.7

64.9

4.4

GFCE

9.9

10.3

-3.8

10.9

11.9

-8.1

12.8

13.4

-4.8

10 GCF

33.7

32.0

5.3

36.6

35.2

3.9

36.6

10.1 Of which GFCF

29.7

28.6

3.9

31.4

30.7

2.1

33.7

32.1

4.9

11 Exports

21.4

21.5

-0.3

24.4

24.3

0.5

28.5

28.2

1.3

12 Imports

27.2

27.2

-0.2

31.1

31.1

0.0

31.9

32.3

-1.1

Industry-wise Growth rates


At the industry level, changes have affected the year-on-year growth rates in the case of mining and
manufacturing due to the adoption of MCA21 database, and in the case of non-financial services
due to the use of sales/service tax as an indicator for nominal growth.
Table 2
Changes in growth at current and constant prices
Growth at current prices
2012-13
2013-14
S.No. Industry
1.
2.
3.
4.
5.
6.
7.
8.
9.

Agriculture, forestry and fishing


Mining and quarrying
Manufacturing
Electricity, gas, water supply &
other utility services
Construction
Trade, repair, hotels and restaurants
Transport, storage, communication &
services related to broadcasting
Financial, real estate & business
services
Community, social & personal services
TOTAL GVA

Growth at constant prices


2012-13
2013-14

2004-05 2011-12 2004-05 2011-12 2004-05 2011-12 2004-05 2011-12


Series
Series Series Series Series Series Series Series

9.7
-0.1
6.9

10.8
8.4
11.6

15.9
0.1
2.2

12.7
4.8
9.3

1.4
-2.2
1.1

1.2
-0.2
6.2

4.7
-1.4
-0.7

3.7
5.4
5.3

15.8

10.0

29.2

14.2

2.3

4.0

5.9

4.8

10.2
10.9

3.6
18.5

7.7
7.0

8.3
20.2

1.1
4.5

-4.3
10.3

1.6
1.0

2.5
13.3

15.3

15.9

10.2

12.1

6.0

8.4

6.1

7.3

17.1

17.4

19.9

14.8

10.9

8.8

12.9

7.9

16.2
11.9

17.4
12.9

13.5
11.5

14.8
13.2

5.3
4.5

8.8
4.9

5.6
4.7

7.9
6.6

Note: Estimates for the earlier series (2004-05 series) have been derived from GVA at factor cost,
while estimates for the 2011-12 series have been derived from GVA at basic prices.

Share of industries in aggregate GVA


Marked changes have also been observed in the shares of two major industries, namely,
manufacturing and trade. In the case of manufacturing, with the availability of the MCA21

database, coverage of the activities other than manufacturing in the companies has improved
significantly. Estimates of trade and repair services has become lower than in the old series
because of two reasons(i)
(ii)

Trade carried out by manufacturing companies, which has now become part of
manufacturing, was earlier covered in trade because of establishment approach;
In 2004-05, no recent survey of unorganised trade enterprises was available for
incorporation and hence the estimates were based on the survey conducted in 19992000. This has now been updated with the survey on Unincorporated Enterprises
conducted by NSS in 2010-11.

Share of the other sectors have also undergone change due to adoption of the latest data sources.
Comparative industry group-wise shares in 2004-05 series and 2011-12 can be seen in Table 3
below.
Table 3
Shares in GVA at current prices
2011-12
S.
Industry
No.
1.
2.
3.
4.
5.
6.
7.
8.
9.

2012-13

2013-14

2004-05 2011-12 2004-05 2011-12 2004-05 2011-12


Series
Series
Series
Series
Series
Series

Agriculture, forestry and fishing


Mining and quarrying
Manufacturing
Electricity, gas, water supply & other utility
services
Construction

17.9
2.7
14.7

18.4
3.2
18.1

17.5
2.4
14.1

18.0
3.1
17.9

18.2
2.1
12.9

18.0
2.8
17.3

1.6

2.4

1.7

2.3

1.9

2.3

8.2

9.4

8.1

8.7

7.8

8.3

Trade, repair, hotels and restaurants

17.4

10.8

17.2

11.3

16.5

12.0

7.3

6.5

7.5

6.6

7.5

6.6

16.5
13.8
100.0

18.8
12.5
100.0

17.2
14.3
100.0

19.5
12.5
100.0

18.5
14.5
100.0

19.8
12.9
100.0

Transport, storage, communication & services


related to broadcasting
Financial, real estate & business services
Community, social & personal services
TOTAL GVA

Note: Estimates for the earlier series (2004-05 series) have been derived from GVA at factor cost,
while estimates for the 2011-12 series have been derived from GVA at basic prices.

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