Seven key takeaways from India’s latest GDP data -Udit Misra

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published Published on Jan 8, 2021   modified Modified on Jan 9, 2021

-The Indian Express

India’s GDP 2020-21: This year, India’s per capita GDP, per capita private consumption and the level of investments in the economy — all will fall to levels last seen in 2016-17 or earlier, reveals latest official GDP data.

On Thursday, the Ministry of Statistics and Programme Implementation released the First Advance Estimates (FAE) for the current financial year. According to MoSPI, India’s gross domestic product (GDP) — the total value of all final goods and services produced within the country in one financial year — will contract by 7.7 per cent in 2020-21.

* What are the First Advance Estimates of GDP? What is their significance?

For any financial year, the MoSPI provides regular estimates of GDP. The first such instance is through the FAE. The FAE for any particular financial year is typically presented on January 7th.

Their significance lies in the fact that they are the GDP estimates that the Union Finance Ministry uses to decide the next financial year’s Budget allocations.

The FAE will be quickly updated as more information becomes available. On February 26th, MoSPI will come out with the Second Advance Estimates of GDP for the current year.

Please click here to read more.


The Indian Express, 8 January, 2021, https://indianexpress.com/article/explained/seven-key-takeaways-from-the-latest-gdp-data/


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