The Union Government of India on 31 January
2014 announced that economy might have expanded by 4.5 percent in fiscal year
2012-13
when compared to the previous estimate of 5 percent in account of
subdued performance in agriculture, mining and manufacturing.
However, as per the estimates of National
Income, Consumption Expenditure, Saving and Capital Formation, the Gross
Domestic Product (GDP) growth in 2011-12 has been revised upwards to 6.7
percent from 6.2 percent. Growth in 2012-13 is the lowest of the decade with
previous low of 4 percent that was recorded in 2002-03.
Central Statistics Office (CSO) under the
Ministry of Statistics and Programme The growth rates and shares of different
sectors of economy during 2010-11 to 2012-13 are mentioned belowImplementation
has estimated the GDP for 2012-13 along with the second revised estimates for
2011-12 and third revision estimates for 2010-11. CSO has revised the growth
for 2010-11 to 8.9 percent from 9.3 percent earlier in the third and final
revision.
The revised estimates for 2012-13 estimated
the primary sectors including agriculture, mining, quarrying and fishing has
grown by one percent against the previous estimate of 1.6 percent. About the
secondary sector that includes manufacturing, electricity,
gas, water supply
and construction has gone down by 1.2 percent from the previous estimate of 2.3
percent.
Gross Domestic Product (GDP) at market prices
at constant (2004-05) prices in 2012-13 is estimated at 59 lakh crore as
against 56.3 lakh crore in 2011-12 registering a growth of 4.7 percent during
the year as against a growth of 6.6 percent in the year 2011-12. At current
prices, GDP at market prices in 2012-13 is estimated at 101.1 lakh crore as
against 90.1 lakh crore in 2011-12, showing an increase of 12.2 per cent during
the year, as against an increase of 15.7 percent in the previous year.
Mandate of
Central Statistics Office (CSO)
CSO is the principal data collecting, processing and disseminating agency
responsible for coordinating, monitoring and supervising the National
Statistical System. It thus has the statutory mandate to produce and provide
government, the private sector, parastatal organisations, international
organisations, the civil society and the general public with statistical
information for evidence based decision-making, policy formulation and planning
as well as investment purposes. The statutory mandate also includes the
responsibility of providing advisory and technical service to all users on
statistical matters.