Central Statistical Organisation has revised the GDP estimates
for the financial year 2004-05. According to the revised
numbers, GDP grew at 7.5 per cent as against the previous
estimate of 6.9 per cent. GDP growth for the previous
financial year 2003-04 was at 8.5 per cent.
terms of sectoral performance, services posted the best
growth rates. Within services, trade, hotels and restaurants
grew at 8.1 per cent; transport, storage and communication
at 14.8 per cent; financing, insurance, real estate and
business services at 9.2 per cent and community, social
and personal services at 9.2 per cent.
posted a growth of 8.1 per cent during 2004-05; construction
expanded 12.5 per cent while mining and quarrying grew
at 5.8 per cent.
growth in was dismal at 0.7 per cent during 2004-05.
base year has also been changed by the CSO for national
income statistics to 1999-2000 from the earlier 1993-1994.
The base year is changed periodically to take into account
the structural changes which take place in the economy
and to get a true picture of the economy through macro
economic aggregates like GDP, consumption expenditure,
capital formation etc.
GDP at factor cost at 1999-00 prices in 2004-05
is estimated at Rs2,393,671 crore as against Rs2,226,041
crore during the previous year. At current prices, GDP
in 2004-05 is estimated at Rs2,843,897 crore as against
National income at 1999-00 prices in 2004-05 is
estimated at Rs2,141,776 crore as against Rs1,986,858
crore in 2003-04, a growth of 7.8 per cent. At current
prices, the national income in 2004-05 is estimated at
Rs2,531,223 crore as compared to Rs2,268,576 crore in
Per capita income at 1999-00 prices for 2004-05
is estimated at Rs19,649 as against Rs18,517 in 2003-04,
a growth of 6.1 per cent. Per capita income at current
prices is estimated at Rs23,222 in 2004-05 as against
Rs21,142 for the previous year.
Gross domestic savings for 2004-05 were 29.1 per
cent of GDP as against 28.9 per cent during the previous
year. In absolute terms, gross domestic savings for 2004-05
were Rs907,416 crore as against Rs797,512 crore in 2003-04.
Household savings in the form of financial assets
has gone up to Rs320,777 crore as against Rs316,444 crore
while physical assets has increased to Rs366,302 crore
from Rs332,190 crore.
corporate sector savings has gone up to Rs1,50,947
2004-05 from Rs1,20,852 crore in 2003-04. Savings of the
public sector increased to Rs69,390 crore in 2004-05 from
Rs28,026 crore during the previous year.