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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 2020-21 along with the corresponding estimates of expenditure components of the
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FAQ :
The First Advance Estimates of National Income for 2020-21, released by the National Statistical Office, provide preliminary figures for GDP at both Constant (2011-12) and Current Prices, along with expenditure components.
The estimates are compiled using the Benchmark-Indicator method, which extrapolates data from indicators such as the Index of Industrial Production, financial performance of listed companies, crop production estimates, government accounts, and various transportation and trade data.
Real GDP (at Constant Prices 2011-12) is estimated to grow at -7.7% in 2020-21, a decrease from the 4.2% growth in 2019-20. The projected level is ₹134.40 lakh crore.
Nominal GDP (at Current Prices) is estimated to grow at -4.2% in 2020-21, compared to the provisional estimate for 2019-20. The projected level is ₹194.82 lakh crore.
The estimates are likely to undergo sharp revisions due to the impact of the Covid-19 pandemic, which caused economic fluctuations and challenges in data collection. The NSO advises users to consider this when interpreting the figures.
The Second Advance Estimates of National Income for 2020-21 and quarterly GDP estimates for October-December 2020 are scheduled for release on 26.02.2021.
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