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GDP estimated to grow at 7.6% in current fiscal

By TIOL News Service

NEW DELHI, FEB 09, 2016: AS per the CSO latest figures, the real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2015-16 is likely to attain a level of  Rs 113.51 lakh crore, as against the First Revised Estimate of GDP for the year 2014-15 of Rs 105.52 lakh crore, released on 29th January 2016. The growth in GDP during 2015-16 is estimated at 7.6 per cent as compared to the growth rate of 7.2 per cent in 2014-15.

National Income

The nominal Net National Income (NNI), also known as national income (at current prices) is likely to be Rs 119.62 lakh crore during 2015-16, as against Rs 110.08 lakh crore for the year 2014-15. In terms of growth rates, the national income registered a growth rate of 8.7 per cent in 2015-16 as against the previous year's growth rate of 10.8 per cent.

Per Capita Income

The per capita net national income during 2015-16 is estimated to be Rs 93,231 showing a rise of 7.3 per cent as compared to Rs 86,879 during 2014-15 with the growth rate of 9.4 per cent.

Gross Fixed Capital Formation

Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs 39.82 lakh crore in 2015-16 as against Rs 38.44 lakh crore in 2014-15. At constant (2011-12) prices, the GFCF is estimated at Rs 35.88 lakh crore in 2015-16 as against Rs 34.08 lakh crore in 2014-15. In terms of GDP, the rates of GFCF at current and constant (2011-12) prices during 2015-16 are estimated at 29.4 per cent and 31.6 per cent, respectively, as against the corresponding rates of 30.8 per cent and 32.3 per cent, respectively in 2014-15.The GFCF is expected to register growth rate of 3.6 per cent at current prices and 5.3 per cent at constant prices. The rate of expenditure on valuables at current prices is same as 1.5 per cent in 2015-16 and 2014-15.


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