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New Delhi : The Gross Domestic Product (GDP) at Constant (2011-12) for the second quarter (July-September) Q2 of 2019-20, both at Constant (2011-12) and Current Prices, is estimated at Rs 35.99 lakh crore, as against Rs 34.43 lakh crore in Q2 of 2018-19, showing a growth rate of 4.5 percent.
Quarterly (GVA (Basic Price) at Constant (2011-2012) Prices for Q2 of 2019-20 is estimated at Rs 33.16 lakh crore, as against Rs 31.79 lakh crore in Q2 of 2018-19, showing a growth rate of 4.3 percent over the corresponding quarter of previous year.
The Economic Activities, which registered growth of over 4.3 percent in Q2 of 2019-20 over Q2 of 2018-19 are : ‘Trade, Hotels, Transport, Communication and Services related to Broadcasting’, ‘Financial, Real Estate and Professional Services’ and ‘Public Administration, Defence and Other Services’.
The growth in the ‘Agriculture, Forestry and Fishing’, ‘Mining and Quarrying’, ‘Manufacturing’, ‘Electricity, Gas, Water Supply & Other Utility Services’ and ‘Construction’ is estimated to be 2.1 percent, 0.1 percent, (-) 1.0 percent, 3.6 percent and 3.3 percent respectively during this period.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation, has released the estimates of Gross Domestic Product (GDP) for the second quarter (July-September) Q2 of 2019-20, both at Constant (2011-12) and Current Prices, along with the corresponding quarterly estimates of expenditure components of the GDP, according to a PIB release.
The second quarter estimates are based on 1st advance estimates of agricultural production during Kharif season of 2019-20 obtained from the Department of Agriculture, Cooperation & Farmer Welfare (DAC& FW). For Livestock sector, estimates of production of major livestock products (i.e. Milk, Egg, Meat and Wool) obtained from the Department of Animal Husbandry & Dairying and Fish production data obtained from Department of Fisheries have been used.
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) for the period July-September 2019-20 have been used.
With the introduction of Goods and Services Tax (GST) from July 1, 2017, and consequent changes in the tax structure, the total tax revenue used for GDP compilation includes non-GST revenue and GST revenue. Performance of key sectors like Transport including Railways, Road, Air and Water Transport etc., Communication, Banking and Insurance during the period July-September 2019-20 has been taken into account while compiling the estimates. Performance of the corporate sector during July-September 2019-20 based on data received from BSE / NSE has been taken into account.
Quarterly Gross Value Added (GVA) at Basic Prices for Q2 2019-20 from ‘Agriculture, Forestry and Fishing’ sector grew by 2.1 percent as compared to growth of 4.9 percent in Q2 2018-19. The crops including fruits and vegetables account for about 43 percent, the livestock products 39 percent and forestry & fisheries 18 percent share of GVA in total GVA of ‘Agriculture, Forestry and Fishing’ sector.
Quarterly GVA at Basic Prices for Q2 2019-20 from ‘Mining and Quarrying’ sector grew by 0.1 percent as compared to growth of -2.2 percent in Q2 2018-19. Quarterly GVA at Basic Prices for Q2 2019-20 from ‘Manufacturing’ sector grew by (-) 1.0 percent as compared to growth of 6.9 percent in Q2 2018-19. The growth of organised sector (which has a share of more than 75 percent in the Manufacturing sector) was estimated from available data of Listed Companies with BSE and NSE.
Quarterly GVA at Basic Prices for Q2 2019-20 from ‘Electricity, Gas, Water Supply and Other Utility Services’ sector grew by 3.6 percent as compared to growth of 8.7 percent in Q2 2018-19. The key indicator of this sector, namely, IIP of Electricity registered growth rate of 0.4 percent during Q2 of 2019-20 as compared to 7.5 percent in Q2 of 2018-19.
Quarterly GVA at Basic Prices for Q2 2019-20 from ‘Construction’ sector grew by 3.3 percent as compared to growth of 8.5 percent in Q2 2018-19. Key indicators of Construction sector, namely, production of Cement and Consumption of finished Steel registered growth rates of 0.3 percent and 3.3 percent respectively, during Q2 of 2019-20 as compared to 12.5 percent, 9.9 percent respectively, in Q2 of 2018-19.