Press Note
Press Note
PRESS NOTE
ON
PROVISIONAL ESTIMATES OF ANNUAL
NATIONAL INCOME 2021-22
AND
QUARTERLY ESTIMATES OF
GROSS DOMESTIC PRODUCT
FOR THE FOURTH QUARTER (Q4) OF
2021-22
National
Accounts IS/ ISO 9001: 2015
Division
2
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm on 31st May 2022.
GOVERNMENT OF INDIA
MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION
PRESS NOTE
2. Annual and quarterly estimates of GVA at Basic Prices by kind of economic activity
along with year on year percent changes, expenditure components of GDP and annual
estimates of Gross/Net National Income and Per Capita Income for the years 2019-20, 2020-
21 and 2021-22 at Constant (2011-12) and Current Prices are given in Statements 1 to 8.
3. Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year
2021-22 is estimated to attain a level of ₹ 147.36 lakh crore, as against the First Revised
Estimate of ₹ 135.58 lakh crore for the year 2020-21, released on 31.01.2022. The growth in
GDP during 2021-22 is estimated at 8.7 percent as compared to a contraction of 6.6 percent
in 2020-21.
4. Nominal GDP or GDP at Current Prices in the year 2021-22 is estimated to attain a
level of ₹ 236.65 lakh crore, as against ₹ 198.01 lakh crore in 2020-21, showing a growth rate
of 19.5 percent.
6. The Advance and Provisional Estimates of National Income are compiled using the
benchmark-indicator method i.e. the estimates available for the previous year referred to as
the benchmark year (2020-21 in this case) are extrapolated using the relevant indicators
reflecting the performance of sectors. The Second Advance Estimates (SAE) of National
Income for the year 2021-22 were released on 28th February, 2022. These estimates have
now been revised incorporating latest information on relevant indicators in the financial year.
National
Accounts IS/ ISO 9001: 2015
Division
3
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm on 31st May 2022.
7. The sector-wise estimates have been compiled using indicators like (i) Index of
Industrial Production (IIP), (ii) financial performance of Listed Companies in the Private
Corporate Sector based on available quarterly financial results for these companies, (iii) Third
Advance Estimates of crop production, (iv) Production of major livestock products, (v) Fish
Production, (vi) Production/consumption of Cement and Steel, (vii) Net Tonne Kilometres
and Passenger Kilometres for Railways, (viii) Passenger and Cargo traffic handled by Civil
Aviation, (ix) Cargo traffic handled at Major Sea Ports, (x) Sales of Commercial Vehicles,
(xi) Bank Deposits & Credits, (xii) Accounts of Central & State Governments, etc., available
for the financial year. Percentage changes in the main indicators used in the estimation are
given in the Annexure.
8. The total tax revenue used for GDP compilation includes non-GST as well as GST
revenue. The Revised Estimates of Tax Revenue for 2021-22 as available in the Annual
Financial Statement of the Central Government for 2022-23 and latest information available
on the websites of the Controller General of Accounts (CGA) and Comptroller and Auditor
General of India (CAG) 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. The total product subsidies for Centre were
compiled using the latest information on major subsidies viz. Food, Urea, Petroleum and
Nutrient based subsidy as available on CGA website and Revised Estimates for 2021-22. The
expenditure incurred on subsidies by most States upto March 2022 as available on CAG
website along with the state-wise BE provision for 2021-22 were used to compile product
subsidies of States. Latest information available on Revenue Expenditure, Interest Payments,
Subsidies etc. for Centre and those based on detailed analysis of budget documents of States
for 2021-22 were also put to use for estimating Government Final Consumption Expenditure
(GFCE).
9. Improved data coverage, actual tax collections and expenditure incurred on subsidies,
data revisions made by source agencies etc. would have a bearing on subsequent revisions of
these estimates. Estimates are, therefore, likely to undergo revisions for the aforesaid causes
in due course, as per the release calendar. Users should take these into consideration while
interpreting the figures.
10. The next release of quarterly GDP estimates for the quarter April-June 2022
(Q1 2022-23) will be on 31.08.2022.
************
National
Accounts IS/ ISO 9001: 2015
Division
4
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm on 31st May 2022.
Statement 1: Provisional Estimates of National Income and Expenditure Components of GDP , 2021-22 (at
2011- 12 Prices )
(₹ crore)
Percentage Change
2019-20 2020-21 2021-22
S.No. Item Over Previous Year
(2nd RE) (1st RE) (PE)
2020-21 2021-22
Domestic Product
1 GVA at Basic Prices 1,32,19,476 1,25,85,074 1,36,05,474 -4.8 8.1
National
Accounts IS/ ISO 9001: 2015
Division
5
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm on 31st May 2022.
Statement 2: Provisional Estimates of National Income and Expenditure Components of GDP , 2021-22 (at
Current Prices )
(₹ crore)
Percentage Change
2019-20 2020-21 2021-22
S.No. Item Over Previous Year
(2nd RE) (1st RE) (PE)
2020-21 2021-22
Domestic Product
1 GVA at Basic Prices 1,83,55,109 1,80,57,810 2,13,49,399 -1.6 18.2
2 Net Taxes on Products 17,19,746 17,43,104 23,15,238 1.4 32.8
3 GDP (1+2) 2,00,74,856 1,98,00,914 2,36,64,637 -1.4 19.5
4 NDP 1,79,09,710 1,74,60,845 2,08,98,019 -2.5 19.7
Expenditure Components
Private Final Consumption
5 1,22,37,111 1,20,32,762 1,40,95,405
Expenditure (PFCE)
Government Final Consumption
6 22,00,871 23,93,290 26,33,867
Expenditure (GFCE)
Gross Fixed Capital Formation
7 57,37,645 52,64,073 67,59,790
(GFCF)
8 Change in Stocks (CIS) 1,34,472 -11,764 2,18,170
9 Valuables 1,94,708 2,71,414 4,01,686
10 Exports 37,52,188 37,04,533 50,63,885
11 Imports 42,70,232 37,81,273 56,53,892
12 Discrepancies 88,092 -72,123 1,45,725
13 GDP 2,00,74,856 1,98,00,914 2,36,64,637
Share in GDP(%)
Private Final Consumption
14 61.0 60.8 59.6
Expenditure (PFCE)
Government Final Consumption
15 11.0 12.1 11.1
Expenditure (GFCE)
Gross Fixed Capital Formation
16 28.6 26.6 28.6
(GFCF)
17 Change in Stocks (CIS) 0.7 -0.1 0.9
18 Valuables 1.0 1.4 1.7
19 Exports 18.7 18.7 21.4
20 Imports 21.3 19.1 23.9
21 Discrepancies 0.4 -0.4 0.6
22 GDP 100.0 100.0 100.0
National Products
23 GNI 1,98,81,742 1,95,34,226 2,32,96,345 -1.7 19.3
24 NNI 1,77,16,597 1,71,94,158 2,05,29,727 -2.9 19.4
Gross National Disposable
25 2,04,22,106 2,00,86,415 2,38,78,138 -1.6 18.9
Income (GNDI)
Net National Disposable Income
26 1,82,56,961 1,77,46,346 2,11,11,520 -2.8 19.0
(NNDI)
Per Capita Income, Product and Final Consumption
27 Per Capita GDP (₹) 1,49,701 1,46,087 1,72,913 -2.4 18.4
28 Per Capita GNI (₹) 1,48,261 1,44,120 1,70,222 -2.8 18.1
29 Per Capita NNI (₹) 1,32,115 1,26,855 1,50,007 -4.0 18.3
30 Per Capita GNDI (₹) 1,52,290 1,48,194 1,74,473 -2.7 17.7
31 Per Capita PFCE (₹) 91,254 88,775 1,02,992 -2.7 16.0
National
Accounts IS/ ISO 9001: 2015
Division
6
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm on 31st May 2022.
Statement 3: Provisional Estimates of GVA at Basic Prices by Economic Activity (at 2011- 12 Prices)
(₹ crore)
Percentage Change
2019-20 2020-21 2021-22
Industry Over Previous Year
(2nd RE) (1st RE) (PE)
2020-21 2021-22
1. Agriculture, Forestry & Fishing 19,82,303 20,48,032 21,09,697 3.3 3.0
2. Mining & Quarrying 3,21,766 2,94,024 3,27,984 -8.6 11.5
3. Manufacturing 22,61,294 22,47,740 24,70,822 -0.6 9.9
4. Electricity, Gas, Water Supply & Other Utility
Services 3,00,675 2,89,771 3,11,598 -3.6 7.5
5. Construction 10,38,680 9,62,835 10,73,595 -7.3 11.5
6. Trade, Hotels, Transport, Communication &
Services related to Broadcasting 26,89,726 21,47,679 23,85,605 -20.2 11.1
7. Financial, Real Estate & Professional Services 28,97,393 29,61,910 30,87,360 2.2 4.2
8. Public Administration, Defence & Other
Services* 17,27,639 16,33,081 18,38,814 -5.5 12.6
GVA at Basic Prices 1,32,19,476 1,25,85,074 1,36,05,474 -4.8 8.1
Statement 4: Provisional Estimates of GVA at Basic Prices by Economic Activity ( at Current Prices )
(₹ crore)
Percentage Change
2019-20 2020-21 2021-22
Industry Over Previous Year
(2nd RE) (1st RE) (PE)
2020-21 2021-22
1. Agriculture, Forestry & Fishing 33,58,364 36,09,494 39,80,067 7.5 10.3
2. Mining & Quarrying 3,58,517 3,24,980 5,13,076 -9.4 57.9
3. Manufacturing 27,04,809 27,09,435 33,07,315 0.2 22.1
4. Electricity, Gas, Water Supply & Other Utility
Services 5,01,618 5,07,352 5,86,679 1.1 15.6
5. Construction 13,72,759 13,15,608 17,19,098 -4.2 30.7
6. Trade, Hotels, Transport, Communication &
Services related to Broadcasting 34,78,493 28,66,393 35,28,896 -17.6 23.1
7. Financial, Real Estate & Professional Services 38,79,338 40,45,760 45,43,303 4.3 12.3
8. Public Administration, Defence & Other Services
27,01,212 26,78,787 31,70,966 -0.8 18.4
GVA at Basic Prices 1,83,55,109 1,80,57,810 2,13,49,399 -1.6 18.2
National
Accounts IS/ ISO 9001: 2015
Division
7
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm on 31st May 2022.
Statement 5: Quarterly Estimates of GVA at Basic Prices for 2021-22 (at 2011-12 Prices)
(₹ Crore)
GVA at Basic Price
* Public Administration, Defence & Other Services category includes the Other Services sector i.e.
Education, Health, Recreation, and other personal services
Statement 6: Quarterly Estimates of Expenditure Components of GDP for 2021-22 (at 2011-12 Prices)
(₹ Crore)
Expenditure Components of GDP
National
Accounts IS/ ISO 9001: 2015
Division
8
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm on 31st May 2022.
Statement 7: Quarterly Estimates of GVA at Basic Prices for 2021-22 (at Current Prices)
(₹ Crore)
GVA at Basic Price
Statement 8: Quarterly Estimates of Expenditure Components of GDP for 2021-22 (at Current Prices)
(₹ Crore)
Expenditure Components of GDP
National
Accounts IS/ ISO 9001: 2015
Division
9
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm on 31st May 2022.
Annexure
Percentage Change in Main Indicators
April-March April-March Q4 Q4
S. No. Indicators
2020-21 2021-22 2020-21 2021-22
National
Accounts IS/ ISO 9001: 2015
Division