A short note on the Indian Growth rate calculated at factor cost


RBI has conveniently classified and computed growth by sector using 2004-05 factor cost

Let us look at them

Amount Produced (in crores of Rupees)

2011-12                                2012-13

  1. Agriculture, Forestry and Fishing    739, 495                                752, 746
  2. Mining and quarrying                        108, 249                                108, 713
  3. Manufacturing                                     823, 02                                  838, 541
  4. Electricity, Gas and water supply    98, 814                                  103, 642
  5. Construction                                        412, 412                                436, 637
  6. Trade, Hotels and Communication 1440, 312                             1514, 543
  7. Financing insurance, real estate business services948, 808     1030, 683
  8. Community, social personal services  672, 469                                717, 971

Total                                                        5243, 582                             5503, 476

5503476

Growth rate       ————            = 1.04956            4.956% is t

5242582

Note

  1. Our GDP in 2012-13 is 55.03476 trillion Rs or 5503476 lac crore Rs
  2. The finance ministry is  predicting 5.5% growth for 2013-14 i.e. 55.03476 x (11.055) = 58.06167 trillion Rs
  3. The IMF is predicting 3.8% growth for 2013-14 i.e. 55.03476 x 1.038 = 57.12608 trillion Rs

A difference 0.93559 trillion Rs.

We will have to wait and see about how successful their projections are.

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