Loading...

⚠ โœ•
❮ Top
☎ Help
Draft upto 3 replies to a
tax notice โ€” FREE ๐ŸŽ‰ โœ•

150 credits ยท 30 days

โ€ข Basic Search โ†’ 1 Credit
โ€ข Advanced Search โ†’ 3 Credits
โ€ข Drafter โ†’ 20 to extract + 25 per issue
(โ‰ˆ upto 2-3 drafts on us)

Already used our earlier 20-Credit Demo?
You are still eligible for this new 150-Credit Demo.

Activate your FREE Demo โ†’
☰
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedbackโœ•

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search โœ•
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
โ•ณ
Add to...
You have not created any category. Kindly create one to bookmark this item!
โœ•
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close โœ•
🔎 Filters / Advanced Search ❯
TEXT

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ---- ❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    GST Council to take a view on GST on UPI MDR: Sources
    K'taka Deputy CM Parameshwara rejects Opposition's allegation of 'bankruptcy'
    EOW registers case against businessman, 4 others for ''forgery, unauthorised transactions''
    India's Russian oil imports hold near 1.8 million bpd as Middle East fills gaps
    IDFC FIRST Bank enables Direct Tax payments through UPI, cards, net banking and branches
    Sensex slumps 1,248 pts as IRDAI proposal hits financial shares; rising crude, US yields weigh
    Bajaj Finance Personal Loan Offers Rs. 40,000 to Rs. 55 Lakh with Tenures up to 108 Months
    MCA issues advisory - cautions public against high-return promises by non-compliant Nidhi Companies
    Banks likely to deploy excess liquidity over next few months amid strong credit demand: RBI Deputy Guv
    Assam Cabinet approves rules for compulsory registration of Muslim marriages
    The Indian Economy in an Ever More Volatile and Complex World - Special Address by Dr. Poonam Gupta, Deputy Governor, Reserve Bank of India at the 13t...
    Technopark software exports rise 17.3 pc to Rs 17,092 cr in FY26
    IIEST, Shibpur partners with TCS to launch state-of-the-art centre of excellence in AI
    AAP holds protest at GMADA office in Mohali as ED's searches continue
    CMRL ''payments'' to UDF, LDF leaders prevented Vigilance probe against Vijayan, claims Ker BJP
    US and China agree to extend trade truce by 2 months: Bessent
    DRI seizes around 21 kg foreign-origin gold worth Rs. 32 crore in crackdown on gold smuggling
    DRI seizes around 12 kg foreign-origin gold smuggled from Bangladesh worth Rs. 17 crore in a crackdown on cross border gold smuggling
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurates BRICS Heads of Tax Authorities Meeting in New Delhi
    DRI seizes 86 live Tokay Geckos in Assam in a crackdown on wildlife trafficking; two arrested
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
September 24, 2026
Show AI Summary
Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
Show AI Summary
Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
Show AI Summary
Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
Show AI Summary
Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.
September 24, 2026
Show AI Summary
Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
Show AI Summary
Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
Show AI Summary
Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
Show AI Summary
Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
Show AI Summary
FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
Show AI Summary
Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
Show AI Summary
Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
Show AI Summary
Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
Show AI Summary
Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
Show AI Summary
Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
Show AI Summary
Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
Show AI Summary
Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.
September 24, 2026
Show AI Summary
Gold Smuggling Enforcement: Concealed foreign-origin gold recovered from vehicles and a traveller, with arrests under customs law.
Gold-smuggling enforcement involved the seizure of approximately 21 kg of foreign-origin gold in two operations and the arrest of five persons under the Customs Act, 1962. Gold bars were recovered from sophisticated vehicle-chassis cavities, while gold bars and cut pieces were recovered from a passenger's specially designed cotton waist belt. The operations concerned suspected cross-border gold movement and targeted organised smuggling networks using sophisticated concealment methods.
September 24, 2026
Show AI Summary
Cross-border gold smuggling enforcement resulted in Customs Act seizures after coordinated recovery of foreign-origin gold from border locations and a passenger.
Cross-border smuggling of foreign-origin gold through the Bangladesh route led to coordinated recoveries and seizures under the Customs Act, 1962. Gold recovered near the India-Bangladesh border was taken over for customs proceedings, including a seizure under Section 110. Foreign-origin gold concealed by a train passenger was also recovered and seized, with investigation indicating its smuggling from Bangladesh.
September 24, 2026
Show AI Summary
BRICS tax cooperation creates standing platforms for international taxation, revenue statistics, professional capacity building and peer learning.
India-led BRICS tax cooperation established standing Working Groups on International Taxation and Transfer Pricing and Revenue Statistics, providing institutional platforms extending beyond individual Chairships. It also institutionalised an annual Young Tax Professionals Capacity Building Programme, launched the BRICS Tax Cross-Learning Lab for peer learning on client-centric administration and human-resources practices, and approved the Terms of Reference for the BRICS Tax Support Network.
September 24, 2026
Show AI Summary
Wildlife trafficking enforcement applies protected-species safeguards to seized Tokay Geckos and enables further statutory action against suspected illegal trade.
Wildlife-trafficking enforcement led to interception of two persons and seizure of 86 live Tokay Geckos under the Wildlife (Protection) Act, 1972. Tokay Geckos receive Schedule I protection under that legislation and are listed in Appendix II of CITES, regulating international trade. The persons and recovered geckos were transferred to the Mariani Range Forest Office for further action.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

News and Press Release

First Advance Estimates of National Income, 2019-20

January 7, 2020

Contents
Summary
Note

Note

-

Bookmark

Print

Print

 The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the First Advance Estimates of National Income at both Constant (2011-12) and Current Prices, for the financial year 2019-20 along with the corresponding estimates of expenditure components of the Gross Domestic Product (GDP).

2. The First Advance Estimates of GDP have been released in accordance with the release calendar of National Accounts. The approach for compiling the Advance Estimates is based on Benchmark-Indicator method. The sector-wise Estimates are obtained by extrapolation of indicators like (i) Index of Industrial Production (IIP) of first 7 months of the financial year, (ii) financial performance of Listed Companies in the Private Corporate sector available upto quarter ending September, 2019 (iii) 1st Advance Estimates of Crop production, (iv) accounts of Central & State Governments, information on indicators like Deposits & Credits, Passenger and Freight earnings of Railways, Passengers and Cargo handled by Civil Aviation, Cargo handled at major Sea Ports, Sales of Commercial Vehicles, etc., available for first 8 months of the financial year. With the introduction of Goods and Services Tax (GST) from 1st July 2017 and consequent changes in the tax structure, the total Tax Revenue used for GDP compilation include non-GST revenue and GST revenue. For the year 2019-20, the Budget Estimates of Tax Revenue as provided by Controller General of Accounts (CGA) have been used for estimating taxes on products at Current Prices. For compiling taxes on products at Constant Prices, volume extrapolation is done using volume growth of taxed goods and services and aggregated to get the total volume of taxes. Annual forecast of indicators which are available for first 7 / 8 months is based on Regression using seasonal dummies to account for seasonal fluctuations or some indicators like IIP have been compiled by dividing the cumulative value for the first 7 months of the current financial year by average of ratio of cumulative value of 7 months to the annual value of past years. The salient features of the Estimates are detailed below:

 ESTIMATES AT CONSTANT (2011-12) PRICES

Gross Domestic Product

3. Real GDP or GDP at Constant Prices (2011-12) in the year 2019-20 is likely to attain a level of ₹147.79 lakh crore, as against the Provisional Estimate of GDP for the year 2018-19 of ₹140.78 lakh crore, released on 31st May 2019. The growth in real GDP during 2019-20 is estimated at 5.0 per cent as compared to the growth rate of 6.8 per cent in 2018-19.

Gross Value Added (GVA) at Basic Prices

4. Real GVA at Basic Prices is estimated to increase from ₹129.07 lakh crore in 2018-19 to ₹135.40 lakh crore in 2019-20. Estimated growth of real GVA in 2019-20 is 4.9 per cent as against 6.6 per cent in 2018-19.

5. The sectors which registered growth rate of over 4.9 percent are, ‘Electricity, Gas, Water Supply and Other Utility Services’, ‘Trade, Hotels, Transport, Communication and Services related to Broadcasting’, 'Financial, Real Estate and Professional Services’ and ‘Public Administration, Defence and Other Services’ at 5.4 per cent, 5.9 per cent, 6.4 per cent, 9.1 per cent respectively. The growth in the ‘Agriculture, Forestry and Fishing’, ‘Mining and Quarrying’, ‘Manufacturing’ and ‘Construction’ is estimated to be 2.8 per cent, 1.5 per cent, 2.0 per cent and 3.2 per cent respectively.

Agriculture, Forestry and Fishing

6. GVA at Basic Prices for 2019-20 from ‘Agriculture, Forestry and Fishing’ sector is estimated to grow by 2.8 per cent as compared to growth of 2.9 per cent in 2018-19. The GVA estimates of this sector are based on 1st advance estimates of agricultural production during Kharif season of 2019-20 obtained from the Ministry of Agriculture & Farmer Welfare. For Livestock sector, estimates of production of major livestock products (i.e. Milk, Egg, Meat and Wool) obtained from the Department of Animal Husbandry & Dairying and Fish production data obtained from Department of Fisheries have been used. The crops including fruits and vegetables account for about 56 per cent, the livestock products 30 per cent and forestry & fisheries 14 per cent share of GVA in total GVA of ‘Agriculture, Forestry and Fishing’ sector.

Mining and Quarrying

7. GVA at Basic Prices for 2019-20 from ‘Mining and Quarrying’ sector is estimated to grow by 1.5 per cent as compared to growth of 1.3 per cent in 2018-19. The key indicators of Mining sector, namely, production of Coal, Crude Oil and Natural Gas registered growth rates of (-) 5.3 per cent, (-) 5.9 per cent and (-) 2.6 per cent, during April-November, 2019-20 as compared to 9.0 per cent, (-) 3.6 per cent and (-) 0.7 per cent respectively, during April-November, 2018-19. IIP of metallic minerals grew at 13.7 per cent during April-October, 2019-20 as compared to 2.6 per cent during same period in 2018-19.

Manufacturing

8. GVA at Basic Prices for 2019-20 from ‘Manufacturing’ sector is estimated to grow by 2.0 per cent as compared to growth of 6.9 per cent in 2018-19. The Private Corporate sector growth in the Manufacturing sector for 2019-20 is estimated using latest available information on major Listed Companies during first half of financial year 2019-20. The Private Corporate sector growth (which has a share of over 75 per cent in the Manufacturing sector) was estimated from available data of Listed Companies with BSE and NSE. The Quasi - Corporate and Unorganized segment (which has a share of over 20 per cent in the Manufacturing sector) has been estimated using IIP of Manufacturing which registered a growth of 0.6 per cent during April-October, 2019-20.

Electricity, Gas, Water Supply and Other Utility Services

9. GVA at Basic Prices for 2019-20 from ‘Electricity, Gas, Water Supply and Other Utility Services’ sector is expected to grow by 5.4 per cent as compared to growth of 7.0 per cent in 2018-19. Estimate of IIP of Electricity compiled for 2019-20 has been used for compilation. IIP of Electricity registered a growth rate of 1.6 per cent during April-October, 2019-20.

Construction

10. GVA at Basic Prices for 2019-20 from ‘Construction’ sector is expected to grow by 3.2 per cent as compared to growth of 8.7 per cent in 2018-19. Key indicators of Construction sector, namely, Production of Cement and Consumption of Finished Steel registered growth rates of (-) 0.02 per cent and 3.5 per cent respectively during April-November, 2019-20.

Trade, Hotels and Transport & Communication and Services related to Broadcasting

11. The estimated growth in GVA for the Trade, Hotels, Transport and Communication and Services related to Broadcasting services during 2019-20 is placed at 5.9 per cent as against growth of 6.9 per cent in the previous year. GVA from Trade sector is estimated using an index of turnover based on Sales Tax. With introduction of GST, Sales Tax data is now subsumed under GST. Therefore, a comparable estimate of turnover based on Sales Tax has been estimated. Methodology of estimation is as explained in the Annexure to the Press Note on estimates of GDP for the second quarter (July-September) of 2017-18 released on 30th November, 2017. The key indicators of Railways, namely, the Net Tonne Kilometres and Passenger Kilometres have shown growth rate of (-)4.1 per cent and (-) 0.9 per cent respectively during April-November, 2019-20. Among the other transport service sectors, Cargo handled at major Sea Ports, Cargo handled by the Civil Aviation, Passengers handled by the Civil Aviation and Sales of Commercial Vehicles registered a growth of 0.2 per cent, (-)7.9 per cent, 1.8 per cent and (-) 22.1 per cent respectively during April-November, 2019-20.

Financial, Real Estate and Professional Services

12. The estimated growth in GVA for this sector during 2019-20 is placed at 6.4 per cent as compared to growth of 7.4 per cent in 2018-19. Major component of this industry is the Real Estate and Professional Services which has a share of over 75 per cent. The key indicators of this sector are the growth of Corporate Sector for Real Estate sector and Computer related activities which are estimated using latest available information on Listed Companies for the first half of financial year 2019-20. Aggregate Bank Deposits and Bank Credits have shown growth rates of 10.3 per cent and 8.9 per cent respectively as on October, 2019.

Public Administration and Defence and Other Services

13. GVA at Basic Prices for 2019-20 from this sector is expected to grow by 9.1 per cent as compared to growth of 8.6 per cent in 2018-19. The key indicator of this sector namely, Union Government Expenditure Net of Interest Payments grew by 17.8 per cent during April-November, 2019-20.

Per Capita Income

14. The Per Capita Income in real terms (at 2011-12 prices) during 2019-20 is likely to attain a level of ₹96,563 as compared to ₹92,565 for the year 2018-19. The growth rate in Per Capita Income is estimated at 4.3 per cent during 2019-20, as against 5.6 per cent in the previous year.

B. ESTIMATES AT CURRENT PRICES

15. Price Indices used as Deflators

The Wholesale Price Index (WPI), in respect of the groups - Food Articles, Manufactured Products, Electricity and all Commodities, has risen by 8.0 per cent, 0.3 per cent, (-) 0.3 per cent and 1.4 per cent, respectively during April-November, 2019-20. The Consumer Price Index (CPI) has shown a rise of 3.7 per cent during April-November, 2019-20.

Gross Domestic Product

16. GDP is derived by adding Taxes on Products net of Subsidies on Products to GVA at Basic Prices. GDP at Current Prices in the year 2019-20 is likely to attain a level of ₹204.42 lakh crore, as against ₹190.10 lakh crore in 2018-19 showing a growth rate of 7.5 per cent.

National Income

17. The nominal Net National Income (NNI), also known as National Income (at Current Prices) is likely to be ₹181.10 lakh crore during 2019-20, as against ₹168.37 lakh crore for the year 2018-19. In terms of growth rates, the National Income registered a growth rate of 7.6 per cent in 2019-20 as against the previous year’s growth rate of 11.3 per cent.

Per Capita Income

18. The Per Capita Net National Income during 2019-20 is estimated to be ₹1,35,050 showing a rise of 6.8 per cent as compared to ₹1,26,406 during 2018-19 with the growth rate of 10.0 per cent.

C. ANNUAL ESTIMATES OF FINAL EXPENDITURES OF GDP, 2019-20

19. Along with the First Advance Estimates of GVA at Basic Prices by economic activity, the First Advance Estimates of Expenditures of the GDP at Current and Constant (2011-12) Prices are also released. These estimates have been compiled using the data from the same sources as those used for compiling GVA estimates by economic activity, detailed data available on Merchandise Trade in respect of Imports and Exports, Balance of Payments, and Expenditure of Central and State Governments. As various components of Expenditure on Gross Domestic Product, namely, Consumption Expenditure and Capital Formation, are normally measured at Market Prices, the discussion in the following paragraphs is in terms of Market Prices only.

Private Final Consumption Expenditure

20. Private Final Consumption Expenditure (PFCE) at Current Prices is estimated at ₹123.07 lakh crore in 2019-20 as against ₹112.90 lakh crore in 2018-19. At Constant (2011-12) Prices, the PFCE is estimated at ₹84.81 lakh crore in 2019-20 as against ₹80.17 lakh crore in 2018-19. In terms of GDP, the rates of PFCE at Current and Constant (2011-12) Prices during 2019-20 are estimated at 60.2 per cent and 57.4 per cent, respectively, as against the corresponding rates of 59.4 per cent and 56.9 per cent, respectively in 2018-19.

Government Final Consumption Expenditure

21. Government Final Consumption Expenditure (GFCE) at Current Prices is estimated at ₹24.34 lakh crore in 2019-20 as against ₹21.35 lakh crore in 2018-19. At Constant (2011-12) Prices, the GFCE is estimated at ₹16.65 lakh crore in 2019-20 as against ₹15.06 lakh crore in 2018-19. In terms of GDP, the rates of GFCE at current and constant (2011-12) prices during 2019-20 are estimated at 11.9 per cent and 11.3 per cent, respectively, as against the corresponding rates of 11.2 per cent and 10.7 per cent, respectively in 2018-19.

Gross Fixed Capital Formation

22. Gross Fixed Capital Formation (GFCF) at Current Prices is estimated at ₹57.42 lakh crore in 2019-20 as against ₹55.70 lakh crore in 2018-19. At Constant (2011-12) Prices, the GFCF is estimated at ₹45.93 lakh crore in 2019-20 as against ₹45.48 lakh crore in 2018-19. In terms of GDP, the rates of GFCF at Current and Constant (2011-12) prices during 2019-20 are estimated at 28.1 per cent and 31.1 per cent, respectively, as against the corresponding rates of 29.3 per cent and 32.3 per cent, respectively in 2018-19.

23. Estimates of Gross/Net National Income and Per Capita Income along with GVA at Basic Prices by kind of economic activity and the Expenditures of GDP for the years 2017-18, 2018-19 and 2019-20 at Constant (2011-12) and Current Prices are given in Statements 1 to 4.

24. The release of Second Advance Estimates of National Income for the year 2019-20 and quarterly GDP estimate for the third quarter (October-December), 2019-20 (Q3 of 2019-20) will be on 28.02.2020.

 

STATEMENT 1: First Advance Estimates of National Income and Expenditures on GDP, 2019-20a

( At 2011- 12 Prices)

 (₹ crore)

(

S. No

Item

2017-18

2018-19

2019-20

Percentage change over previous year

(PE)

(1st AE)

2018-19

2019-20

 

Domestic Product

 

 

 

 

1

GVA at Basic Prices

12,104,165

12,906,936

13,540,380

6.6

4.9

2

Net Taxes on Products

1,075,693

1,170,650

1,238,499

8.8

5.8

3

GDP (1+2)

13,179,857

14,077,586

14,778,879

6.8

5.0

4

NDP

11,676,896

12,474,945

13,097,584

6.8

5.0

 

Final Expenditures

 

 

 

 

 

5

PFCE

7,417,489

8,016,674

8,480,699

 

 

6

GFCE

1,378,563

1,506,035

1,664,514

 

 

7

GFCF

4,136,572

4,548,452

4,592,664

 

 

8

CIS

150,417

157,637

161,225

 

 

9

VALUABLES

192,120

174,780

198,356

 

 

10

Exports of Goods and Services

2,607,310

2,933,969

2,874,795

 

 

11

Imports of Goods and Services

3,083,560

3,557,901

3,347,131

 

 

12

Discrepancies

380,947

297,939

153,756

 

 

13

GDP

13,179,857

14,077,586

14,778,879

 

 

 

RATES TO GDP

 

 

 

 

 

14

PFCE

56.3

56.9

57.4

 

 

15

GFCE

10.5

10.7

11.3

 

 

 16

GFCF

31.4

32.3

31.1

 

 

17

CIS

1.1

1.1

1.1

 

 

18

VALUABLES

1.5

1.2

1.3

 

 

19

Exports of Goods and Services

19.8

20.8

19.5

 

 

20

Imports of Goods and Services

23.4

25.3

22.6

 

 

21

Discrepancies

2.9

2.1

1.0

 

 

22

GDP

100.0

100.0

100.0

 

 

 

NATIONAL PRODUCT

 

 

 

 

 

23

GNI

13,034,121

13,932,287

14,630,421

6.9

5.0

24

NNI

11,531,159

12,329,646

12,949,125

6.9

5.0

 Per Capita Income, Product and Final Consumption

 

 

25

Population* (in million)

1316

1332

1341

 

 

26

Per Capita GDP (₹)

100,151

105,688

110,208

5.5

4.3

27

Per Capita GNI (₹)

99,043

104,597

109,101

5.6

4.3

28

Per Capita NNI (₹)

87,623

92,565

96,563

5.6

4.3

29

Per Capita PFCE (₹)

56,364

60,185

63,242

6.8

5.1

* Relates to mid-financial year

                   

PE: Provisional Estimates; AE: Advance Estimates

 

 

 

STATEMENT 2: First Advance Estimates of National Income and Expenditures on GDP, 2019-20

 

( At Current Prices)

 

(₹ crore)

 

 

 

S.No

Item

2017-18

2018-19

2019-20

Percentage change over previous year

 

 

 

(PE)

(1st AE)

2018-19

2019-20

 

Domestic Product

 

 

 

 

1

GVA at Basic Prices

15,482,715

17,199,815

18,502,193

11.1

7.6

2

Net Taxes on Products

1,612,290

1,810,349

1,940,040

12.3

7.2

3

GDP (1+2)

17,095,005

19,010,164

20,442,233

11.2

7.5

4

NDP

15,313,286

17,030,846

18,313,040

11.2

7.5

 

Final Expenditures

 

 

 

 

 

5

PFCE

10,083,121

11,290,029

12,307,193

 

 

6

GFCE

1,885,613

2,134,615

2,434,175

 

 

7

GFCF

4,896,813

5,569,998

5,742,431

 

 

8

CIS

173,890

187,671

197,966

 

 

9

VALUABLES

218,706

193,992

217,077

 

 

10

Exports of Goods and Services

3,210,547

3,752,230

3,771,459

 

 

11

Imports of Goods and Services

3,758,519

4,493,933

4,338,020

 

 

12

Discrepancies

384,835

375,562

109,953

 

 

13

GDP

17,095,005

19,010,164

20,442,233

 

 

 

RATES TO GDP

 

 

 

 

 

14

PFCE

59.0

59.4

60.2

 

 

15

GFCE

11.0

11.2

11.9

 

 

16

GFCF

28.6

29.3

28.1

 

 

17

CIS

1.0

1.0

1.0

 

 

18

VALUABLES

1.3

1.0

1.1

 

 

19

Exports of Goods and Services

18.8

19.7

18.4

 

 

20

Imports of Goods and Services

22.0

23.6

21.2

 

 

21

Discrepancies

2.3

2.0

0.5

 

 

22

GDP

100.0

100.0

100.0

 

 

 

NATIONAL PRODUCT

 

 

 

 

 

23

GNI

16,910,192

18,816,538

20,239,374

11.3

7.6

24

NNI

15,128,474

16,837,219

18,110,180

11.3

7.6

25

GNDI

17,315,933

19,237,943

20,668,980

11.1

7.4

26

NNDI

15,534,214

17,258,624

18,539,786

11.1

7.4

 Per Capita Income, Product and Final Consumption

 

 

27

Per Capita GDP(₹)

129,901

142,719

152,440

9.9

6.8

28

Per Capita GNI (₹)

128,497

141,265

150,927

9.9

6.8

29

Per Capita NNI (₹)

114,958

126,406

135,050

10.0

6.8

30

Per Capita GNDI (₹)

131,580

144,429

154,131

9.8

6.7

31

Per Capita PFCE (₹)

76,619

84,760

91,776

10.6

8.3

PE: Provisional Estimates; AE: Advance Estimates

STATEMENT 3: First Advance Estimates of GVA at Basic Prices by Economic Activity

(At 2011-12 Prices)

 (₹ crore)

Industry

2017-18

2018-19

(PE)

2019-20

( 1st AE)

Percentage change over previous year

 

 

 

2018-19

2019-20

1. Agriculture, Forestry & Fishing

1,803,039

1,855,632

1,907,605

2.9

2.8

2. Mining & Quarrying

365,677

370,564

376,119

1.3

1.5

3. Manufacturing

2,176,923

2,328,040

2,374,176

6.9

2.0

4. Electricity, Gas, Water Supply & other Utility Services

267,720

286,427

301,966

7.0

5.4

5. Construction

969,194

1,053,901

1,087,210

8.7

3.2

6. Trade, Hotels, Transport, Communication and Services related to Broadcasting

2,312,214

2,471,128

2,616,095

6.9

5.9

7. Financial, Real Estate & Professional Services

2,649,146

2,846,393

3,027,407

7.4

6.4

8. Public Administration, Defence and other Services

1,560,252

1,694,851

1,849,803

8.6

9.1

 GVA at Basic Prices

12,104,165

12,906,936

13,540,380

6.6

4.9

 

 

 

 

 

 

 

PE: Provisional Estimates; AE: Advance Estimates

STATEMENT 4: First Advance Estimates of GVA at Basic Prices by Economic Activity

(At Current Prices)

(₹ crore)

 

Industry

2017-18

2018-19 (PE)

2019-20

( 1st AE)

Percentage change over previous year

 

 

 

2018-19

2019-20

1. Agriculture, Forestry & Fishing

2,670,147

2,775,852

3,047,187

4.0

9.8

2. Mining & Quarrying

351,058

410,151

403,436

16.8

-1.6

3. Manufacturing

2,542,089

2,818,218

2,882,958

10.9

2.3

4. Electricity, Gas, Water Supply & other Utility Services

423,089

479,871

502,917

13.4

4.8

5. Construction

1,213,628

1,376,293

1,439,892

13.4

4.6

6. Trade, Hotels, Transport, Communication and Services related to Broadcasting

2,823,263

3,151,709

3,391,278

11.6

7.6

7. Financial, Real Estate & Professional Services

3,252,789

3,666,326

3,944,979

12.7

7.6

8. Public Administration, Defence and other Services

2,206,652

2,521,395

2,889,546

14.3

14.6

GVA at Basic Prices

15,482,715

17,199,815

18,502,193

11.1

7.6

 

 

 

       

 

PE: Provisional Estimates; AE: Advance Estimates

Click here to see in PDF Format

*****

VRRK/AK 

Topics

Acts Income Tax