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PRESS NOTE
ON

FIRST ADVANCE ESTIMATES

OF
NATIONAL INCOME 2021-22

NATIONAL STATISTICAL OFFICE

MINISTRY OF STATISTICS & PROGRAMME
IMPLEMENTATION
GOVERNMENT OF INDIA

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GOVERNMENT OF INDIA
MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION

Dated 17 Pausha, 1943 Saka

7th January, 2022
PRESS NOTE

FIRST ADVANCE ESTIMATES OF NATIONAL INCOME, 2021-22

The National Statistical Office (NSO), Ministry of Statistics and Programme

Implementation is releasing in this Press Note the First Advance Estimates (FAE) of National
Income at both Constant (2011-12) and Current Prices, for the financial year 2021-22 along with
the corresponding estimates of expenditure components of the Gross Domestic Product (GDP), in
accordance with the release calendar of National Accounts.

2. The First Advance Estimates of GDP, introduced in 2016-17 to serve as essential inputs
to the Budget exercise, is based on limited data and compiled using the Benchmark-Indicator
method i.e. the estimates available for the previous year (2020-21 in this case) are extrapolated
using relevant indicators reflecting the performance of sectors.

3. Estimates of Gross/Net National Income and Per Capita Income along with GVA at Basic
Prices by kind of economic activity and the Expenditure Components of GDP for the years 2019-
20, 2020-21 and 2021-22 at Constant (2011-12) and Current Prices are given in Statements 1 to 4.

4. Real GDP or GDP at Constant Prices (2011-12) in the year 2021-22 is estimated at ₹147.54
lakh crore, as against the Provisional Estimate of GDP for the year 2020-21 of ₹135.13 lakh crore,
released on 31st May 2021. The growth in real GDP during 2021-22 is estimated at 9.2 per cent as
compared to the contraction of 7.3 per cent in 2020-21. Real GVA at Basic Prices is estimated at
₹135.22 lakh crore in 2021-22, as against ₹124.53 lakh crore in 2020-21, showing a growth of 8.6
percent.

5. Nominal GDP or GDP at Current Prices in the year 2021-22 is estimated at ₹232.15 lakh
crore, as against the Provisional Estimate of GDP for the year 2020-21 of ₹197.46 lakh crore,
released on 31st May 2021. The growth in nominal GDP during 2021-22 is estimated at 17.6 per
cent. Nominal GVA at Basic Prices is estimated at ₹210.37 lakh crore in 2021-22, as against
₹179.15 lakh crore in 2020-21, showing a growth of 17.4 percent.

6. The sector-wise estimates have been compiled using 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, 2021 (iii) 1st
Advance Estimates of Crop production, (iv) Accounts of Central & State Governments, (v) Bank
Deposits & Credits, (vi) Net Tonne Kilometres and Passenger Kilometres for Railways, (vii)
Passengers and Cargo handled by Civil Aviation, (viii) Cargo handled at Major Sea Ports, (ix)
Sales of Commercial Vehicles, etc., available for first 8 months of the financial year. Projections

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for 2021-22 for passengers and cargo handled by civil aviation, cargo handled at major sea ports
made available by the concerned agencies were also made use of in compilation of estimates of
respective sectors. Percentage change in the main indicators used in the estimation are given in the
Annexure.

7. The total tax revenue used for GDP compilation includes non-GST revenue and GST
revenue. The Budget Estimates of tax revenue for 2021-22, as available on Controller General of
Accounts (CGA) and Comptroller and Auditor General of India (CAG) websites 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 were compiled using the latest information on major subsidies viz. Food, Urea, Petroleum
and Nutrient based subsidy as available on CGA website and the expenditure incurred on subsidies
by most States upto October 2021 as available on CAG website along with the Centre/Statewise BE
provision for 2021-22. Information available on Revenue expenditure, Interest payments, Subsidies
etc. based on detailed analysis of budget documents of Centre and States for 2021-22 were also put
to use for estimating Government Final Consumption Expenditure (GFCE).

8. However, these are early projections for 2021-22. Actual performance of various indicators,
actual tax collections and expenditure incurred on subsidies in the following months, fresh relief
measures for the vulnerable sections (such as providing free food grains which has now been
extended till March 2022) and other measures, if any, taken by the Government to contain the
spread of Covid-19 would have a bearing on subsequent revisions of these estimates. The First
Revised Estimates for 2020-21 (benchmark year), due for release on 31.01.2022, may also lead to
revision in growth rates reflected in FAE. Estimates are therefore likely to undergo revisions for the
aforesaid causes in due course, as per the release calendar. Users should take this into consideration
when interpreting the figures.

9. The release of Second Advance Estimates of National Income for the year 2021-22 and
quarterly GDP estimate for the quarter October-December, 2021 (Q3 2021-22) will be on
28.02.2022.

******

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STATEMENT 1: First Advance Estimates of National Income and Expenditure Components of GDP , 2021-
22 (at 2011- 12 Prices )
(₹ crore)
Percentage Change
2020-21 2021-22
S.No. Item 2019-20 Over Previous Year
(PE) (1st AE)
2020-21 2021-22
Domestic Product
1 GVA at Basic Prices 1,32,71,471 1,24,53,430 1,35,22,461 -6.2 8.6

2 Net Taxes on Products 12,97,797 10,59,310 12,31,074 -18.4 16.2

Gross Domestic Product (GDP)
3 1,45,69,268 1,35,12,740 1,47,53,535 -7.3 9.2
(1+2)
4 Net Domestic Product (NDP) 1,28,22,882 1,18,74,000 1,29,74,121 -7.4 9.3
Expenditure Components
Private Final Consumption
5 83,21,701 75,60,985 80,80,527
Expenditure (PFCE)
Government Final Consumption
6 15,41,742 15,86,745 17,07,307
Expenditure (GFCE)
Gross Fixed Capital Formation
7 47,30,416 42,20,508 48,51,682
(GFCF)
8 Change in Stocks (CIS) 1,58,385 1,54,276 1,67,641
9 Valuables 1,64,527 1,67,784 2,94,022
10 Exports 28,26,639 26,94,386 31,40,152
11 Imports 33,17,165 28,65,827 37,07,795
12 Discrepancies 1,43,023 -6,117 2,19,999
13 GDP 1,45,69,268 1,35,12,740 1,47,53,535
Share in GDP(%)
Private Final Consumption
14 57.1 56.0 54.8
Expenditure (PFCE)
Government Final Consumption
15 10.6 11.7 11.6
Expenditure (GFCE)
Gross Fixed Capital Formation
16 32.5 31.2 32.9
(GFCF)
17 Change in Stocks (CIS) 1.1 1.1 1.1
18 Valuables 1.1 1.2 2.0
19 Exports 19.4 19.9 21.3
20 Imports 22.8 21.2 25.1
21 Discrepancies 1.0 -0.05 1.5
22 GDP 100.0 100.0 100.0
National Products
23 Gross National Income (GNI) 1,44,27,632 1,33,84,612 1,46,40,445 -7.2 9.4
24 Net National Income (NNI) 1,26,81,246 1,17,45,872 1,28,61,032 -7.4 9.5
Per Capita Income, Product and Final Consumption
25 Population* (in million) 1341 1355 1369
26 Per Capita GDP (₹) 1,08,645 99,694 1,07,801 -8.2 8.1
27 Per Capita GNI (₹) 1,07,589 98,749 1,06,975 -8.2 8.3
28 Per Capita NNI (₹) 94,566 86,659 93,973 -8.4 8.4
29 Per Capita PFCE (₹) 62,056 55,783 59,043 -10.1 5.8

PE: Provisional Estimates; AE: Advance Estimates

* Relates to mid-financial year

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STATEMENT 2: First Advance Estimates of National Income and Expenditure Components of GDP , 2021-
22 (at Current Prices )
(₹ crore)

Percentage Change
2020-21 2021-22
S.No. Item 2019-20 Over Previous Year
(PE) (1st AE)
2020-21 2021-22
Domestic Product
1 GVA at Basic Prices 1,84,61,343 1,79,15,167 2,10,36,541 -3.0 17.4
2 Net Taxes on Products 18,89,670 18,30,503 21,78,163 -3.1 19.0
3 GDP (1+2) 2,03,51,013 1,97,45,670 2,32,14,703 -3.0 17.6
4 NDP 1,81,87,414 1,76,46,082 2,07,49,302 -3.0 17.6
Expenditure Components
Private Final Consumption
5 1,23,09,019 1,15,68,231 1,33,52,401
Expenditure (PFCE)
Government Final Consumption
6 22,85,016 24,67,415 28,38,751
Expenditure (GFCE)
Gross Fixed Capital Formation
7 58,51,313 53,49,875 68,77,914
(GFCF)
8 Change in Stocks (CIS) 1,94,441 1,95,411 2,30,442
9 Valuables 1,94,700 2,35,782 4,31,086
10 Exports 37,50,567 36,85,170 46,76,511
11 Imports 42,65,040 37,92,712 53,66,008
12 Discrepancies 30,997 36,499 1,73,606
13 GDP 2,03,51,013 1,97,45,670 2,32,14,703
Share in GDP(%)
Private Final Consumption
14 60.5 58.6 57.5
Expenditure (PFCE)
Government Final Consumption
15 11.2 12.5 12.2
Expenditure (GFCE)
Gross Fixed Capital Formation
16 28.8 27.1 29.6
(GFCF)
17 Change in Stocks (CIS) 1.0 1.0 1.0
18 Valuables 1.0 1.2 1.9
19 Exports 18.4 18.7 20.1
20 Imports 21.0 19.2 23.1
21 Discrepancies 0.2 0.2 0.7
22 GDP 100.0 100.0 100.0
National Products
23 GNI 2,01,57,899 1,95,61,348 2,30,38,772 -3.0 17.8
24 NNI 1,79,94,301 1,74,61,759 2,05,73,371 -3.0 17.8
Gross National Disposable
25 2,06,98,263 2,01,28,484 2,36,37,380 -2.8 17.4
Income (GNDI)
Net National Disposable Income
26 1,85,34,665 1,80,28,896 2,11,71,978 -2.7 17.4
(NNDI)
Per Capita Income, Product and Final Consumption
27 Per Capita GDP (₹) 1,51,760 1,45,680 1,69,625 -4.0 16.4
28 Per Capita GNI (₹) 1,50,320 1,44,320 1,68,340 -4.0 16.6
29 Per Capita NNI (₹) 1,34,186 1,28,829 1,50,326 -4.0 16.7
30 Per Capita GNDI (₹) 1,54,349 1,48,504 1,72,714 -3.8 16.3
31 Per Capita PFCE (₹) 91,790 85,348 97,563 -7.0 14.3

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STATEMENT 3: First Advance Estimates of GVA at Basic Prices by Economic Activity (at 2011- 12 Prices)

(₹ crore)
Percentage Change
2020-21 2021-22
Industry 2019-20 Over Previous Year
(PE) (1st AE)
2020-21 2021-22
1. Agriculture, Forestry & Fishing 19,68,571 20,40,079 21,19,449 3.6 3.9
2. Mining & Quarrying 3,22,116 2,94,644 3,36,859 -8.5 14.3
3. Manufacturing 22,69,424 21,07,068 23,70,288 -7.2 12.5
4. Electricity, Gas, Water Supply & Other Utility
3,00,532 3,06,254 3,32,235 1.9 8.5
Services
5. Construction 10,35,534 9,46,396 10,47,448 -8.6 10.7
6. Trade, Hotels, Transport, Communication &
26,99,797 22,08,388 24,70,320 -18.2 11.9
Services related to Broadcasting
7. Financial, Real Estate & Professional Services 29,16,509 28,72,815 29,88,131 -1.5 4.0
8. Public Administration, Defence & Other
17,58,987 16,77,786 18,57,731 -4.6 10.7
Services*
GVA at Basic Prices 1,32,71,471 1,24,53,430 1,35,22,461 -6.2 8.6

PE: Provisional Estimates; AE: Advance Estimates

* Public Administration, Defence & Other Services category includes the Other Services sector i.e. Education, Health,
Recreation, and other personal services

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

(₹ crore)
Percentage Change
2020-21 2021-22
Industry 2019-20 Over Previous Year
(PE) (1st AE)
2020-21 2021-22
1. Agriculture, Forestry & Fishing 33,94,033 36,16,523 39,45,411 6.6 9.1
2. Mining & Quarrying 3,55,833 2,92,120 4,75,202 -17.9 62.7
3. Manufacturing 27,12,269 25,85,740 32,37,995 -4.7 25.2
4. Electricity, Gas, Water Supply & Other Utility
4,83,644 4,84,477 5,33,371 0.2 10.1
Services
5. Construction 13,68,638 12,82,048 16,86,587 -6.3 31.6
6. Trade, Hotels, Transport, Communication &
34,80,240 29,41,477 35,60,864 -15.5 21.1
Services related to Broadcasting
7. Financial, Real Estate & Professional Services 39,15,848 39,50,786 44,04,086 0.9 11.5

8. Public Administration, Defence & Other Services 27,50,837 27,61,996 31,93,024 0.4 15.6
GVA at Basic Prices 1,84,61,343 1,79,15,167 2,10,36,541 -3.0 17.4

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Annexure
Percentage Change in Main Indicators

S. No. Indicators 2020-21 2021-22 Data available upto

1 Production of Rice 2.9 1.3 FAE of Crop Production

2 Production of Coal -2.6 11.6 November
3 Production of Crude Oil -6.0 -2.7 November
4 Production of Cement -19.5 28.3 November
5 Consumption of Steel -14.2 16.0 December
6 Total Telephone Subscribers -2.7 1.5 October
7 Sales of Commercial Vehicles -56.0 64.7 September
8 Purchase of Private Vehicles -24.6 -1.4 November
9 Cargo Handled at Major Sea Ports -10.2 12.0 November
10 Cargo Handled at Airports -33.7 45.6 November
11 Passengers Handled at Airports -78.8 117.2 November
12 Railways
(i) Net Tonne Kilometers -6.8 27.9 November
(ii) Passenger Kilometers -90.5 382.8 November
13 Aggregate Bank Deposits 11.3 9.6 December
14 Aggregate Bank Credits 6.0 7.3 December
Revenue Expenditure less Interest Payment
15 4.9 2.8 November
and Subsidies (Centre)
16 LIC Premium - Non-Linked 2.2 0.4 September
17 LIC Premium - Linked 30.9 168.3 September
18 Export of Goods & Services -9.0 37.9 October
19 Import of Goods & Services -26.5 60.9 October
20 CPI General Index 6.9 5.2 November
21 IIP
(i) Mining -13.2 20.5 October
(ii) Manufacturing -19.4 21.2 October
(iii) Electricity -5.6 11.3 October
(iv) Metallic Minerals -29.1 52.9 October
22 WPI
(i) Food Articles 4.6 1.4 November
(ii) Minerals 1.9 17.0 November
(iii) Manufactured Products 1.14 11.3 November
(iv) All Commodities -0.2 12.2 November

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