Friday, June 4, 2010

Review of the Indian Economy 2009-10

Indian economy grew by 8.4 per cent in the last quarter(Q4) of 2009-10, pushing up the overall growth to a better-than expected 7.4 per cent. The 7.4 percent growth is also an upward revision from the earlier estimate of 7.2 percent.
The gross domestic product (GDP) was Rs 44,64,081 crore (at 2004-05 prices), bettering the earlier government estimate of 7.2 per cent growth over the previous year's Rs 41,54,973 crore.
Central Statistical Organization(CSO) has revised all the previous three quarters. The first quarter GDP was revised downwards to 6 per cent against 6.1 per cent estimated provisionally. While the second quarter saw growth at 8.6 per cent against provisional estimates of 7.9 per cent, third quarter GDP rose by 6.5 per cent against 6 per cent.
Why there is a revised growth rates in the previous quarters?
Normally there will be no change in the quarterly figures, unless the annual figure firms up. This time it was done because, the base year was changed to 2004-05 from 1999-2000 earlier. The first two quarters Q1, Q2 of GDP were released on the basis of 1999-2000 base price, while the next two quarters Q3, Q4 were released on the basis of 2004-5 base price.
India’s gross domestic product (GDP) had expanded by 6.7 percent during 2008-09.
India’s Economic growth rates for the year 2008-09 and 2009-10:

                 Industry
   2008-09
  2009-10
  1.
Agriculture, Forestry and Fishing
     1.6%
    0.2%
  2.
Mining and Quarrying
     1.6%
   10.6%
  3.
Manufacturing
     3.2%
   10.8%
  4.
Electricity, Gas and water supply
     3.9%
    6.5%
  5.
Construction
     5.9%
    6.5%
  6.
Trade, Transport and Telecom
     7.6%
    9.3%
  7.
Finance, Insurance and Real Estate
    10.1%
    9.7%
  8.
Community, social and personal services
    13.9%
    5.6%
  9.
GDP at factor cost
      6.7%
    7.4%

Per Capita Income:
The per capita income at current prices during 2009-10 is estimated to attain a level of
Rs. 44,345 as compared to the Quick Estimates for the year 2008-09 of Rs. 40,141, showing a rise of 10.5 per cent.
The per capita net national income in real terms (at 2004-05 prices) during 2009-10 is
estimated to attain a level of Rs. 33,588 (as against Rs. 33,540 estimated on 8th February,2010), as compared to the Quick Estimates for the year 2008-09 of Rs. 31,821. The growth rate in per capita income is estimated at 5.6 per cent during 2009-10.
Inputs: CSO.

7 comments:

Prasant Kumar said...

indeed its grt8 work
i am appreciating u.

sanjeev said...

hello varun sir,
thanks for this useful article. Can you please share some gs questions for LIC ado. thanks

Varun Reddy said...

Sanjeev:
I think for LIC there is only 20 questions in GK section. Really we cant expect questions in LIC.Questions might be on the authors and books, new presidents, etc.

anjali said...

Hi Varun,


When is SBI clearical exam results will going to announce...

please am very tensed

Varun Reddy said...

Why tensed...???To be frank...Nobody knows when the final results will come.So please be patience...

Sunil said...

Varun, you are doing a wonderful job..

when we can expect SBI associates PO results...

pavan said...

Hi Varun,

Usually how much time they will take to announce the results, (for sbi clerk).Any idea , after how many months the results announced last year after interview.

Regards,
Pavan.