Per capita income up 4.9 per cent at Rs25,494 in 2008-09

Per capita income in the country in real terms (at 1999-2000 prices) during 2008-09 has grown 4.9 per cent to Rs25,494 as compared to the quick estimates for the year 2007-08 of Rs24,295, revised data provided by the Central Statistical Organisation (CSO) showed.

CSO had earlier, on 9 February, projected per capita income at Rs25,661.

Per capita income at current prices, however, has risen to Rs37,490 during 2008-09 as compared to the quick estimates for the year 2007-08 of Rs33,283, showing a rise of 12.6 per cent.

Net national product (NNP) of the country at factor cost (also known as national income) at current prices rose to Rs43,26,384 crore during 2008-09, as compared to Rs37,87,597 crore during 2007-08, showing a rise of 14.2 per cent, according to the revised estimates provided by the Central Statistical Organisation.

NNP at factor cost (at 1999-2000 prices) is now estimated at Rs29,41,971 crore (as compared to Rs29,61,249 crore estimated earlier), during 2008-09, as against the previous year's quick estimate of Rs27,64,795 crore.

In terms of growth rates, the national income is estimated to rise by 6.4 per cent during 2008-09, in comparison to the growth rate of 9.1 per cent in 2007-08.

GDP at factor cost at current prices in the year 2008-09 is estimated at Rs49,33,183 crore, showing a growth rate of 14.2 per cent over the quick estimates of GDP for the year 2007-08 of Rs43,20,892 crore, released on 30 January 2009.

Expenditures on GDP

Along with the revised estimates of GDP by economic activity, the CSO has also released the estimates of expenditures of the GDP at current and constant (1999-2000) prices.

These estimates have been compiled using the data on indicators available from the same sources as those used for compiling GDP estimates by economic activity, detailed data available on merchandise trade in respect of imports and exports, balance of payments, and monthly accounts of central government, CSO said.

Private Final Consumption Expenditure

Private Final Consumption Expenditure (PFCE) at current prices is estimated at Rs29,13,386 crore in 2008-09 as against Rs25,96,084 crore in 2007-08. At constant (1999-2000) prices, the PFCE is estimated at Rs20,01,488 crore in 2008-09 as against Rs19,45,668 crore in 2007-08. In terms of GDP at market prices, the rates of PFCE at current and constant (1999-2000) prices during 2008-09 are estimated at 54.7 per cent and 55.5 per cent, respectively, as against the corresponding rates of 55.0 per cent and 57.2 per cent, respectively in 2007-08.

Government Final Consumption Expenditure

Government Final Consumption Expenditure (GFCE) at current prices is estimated at Rs6,16,447 crore in 2008-09 as against Rs4,79,099 crore in 2007-08. At constant (1999-2000) prices, the GFCE is estimated at Rs3,99,262 crore in 2008-09 as against Rs3,32,033 crore in 2007-08. In terms of GDP at market prices, the rates of GFCE at current and constant (1999-2000) prices during 2008-09 are estimated at 11.6 per cent and 11.1 per cent, respectively, as against the corresponding rates of 10.1 per cent and 9.8 per cent, respectively in 2007-08.

Gross Fixed Capital Formation

Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs18,52,354 crore in 2008-09 as against Rs16,05,440 crore in 2007-08. At constant (1999-2000) prices, the GFCF is estimated at Rs11,63,503 crore in 2008-09 as against Rs10,75,632 crore in 2007-08.

In terms of GDP at market prices, the rates of GFCF at current and constant (1999-2000) prices during 2008-09 are estimated at 34.8 per cent and 32.2 per cent, respectively, as against the corresponding rates of 34.0 per cent and 31.6 per cent, respectively in 2007-08. Thus, there is an increase of 0.8 percentage points in the estimated GFCF at current prices during 2008-09.

The rates of change in stocks and valuables at current prices during 2008-09 are estimated at 33.5 per cent and 1.3 per cent, respectively.