India’s GDP growth during the financial year 2019-20 is projected to be at 5%, as compared to 6.8% the previous period, according to advance estimates released by the Ministry of Statistics.
Estimated growth of real gross value added (GVA) in 2019-20 is expected to be 4.9%, as against 6.6% in the corresponding previous period. The manufacturing sector is expected to grow at 2% in current FY as compared to 6.9% in FY 18-19. Per capita income growth rate in real terms (at 2011-12 prices) is estimated at 4.3% in 19-20, as compared to 5.6% in ’18-19. Agriculture sector is projected to grow at 2.8% in 19-20 as against 2.9% in the previous FY.
The advance estimates are compiled using the Benchmark-Indicator method where sector-wise estimates are obtained by extrapolation of indicators like the Index of Industrial Production (IIP) in the first seven months of the fiscal, financial performance of the listed private companies up to the quarter ending September, the first advance estimates of crop production, accounts of Central and state governments, indicators of deposits of credits, passenger and freight earnings of the railways, civil aviation and ports, and sales of commercial vehicles, among others, available for the first eight months of the fiscal.
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