Do it yourself

The National Statistical Office (NSO) released provisional estimates (PE) of the annual growth statistics for the Indian economy, last Friday. The data indicates that the Indian economy grew at a rate of 7.4% (real GDP) in 4QFY25 and at a rate of 6.5% for the full year FY25. The key highlights of the growth data could be listed as follows: FY25 Growth Real GDP:  Estimated at  ₹ 187.97 lakh crore at constant (2011-12) prices. Growth rate:  6.5% compared to  ₹ 176.51 lakh crore in FY 2023-24 (8.2% growth in FY24). Nominal GDP:  Estimated at  ₹ 330.68 lakh crore. Growth rate:  9.8% compared to  ₹ 301.23 lakh crore in FY 2023-24. Real Gross Value Added (GVA):  Estimated at  ₹ 171.87 lakh crore at constant prices. Growth rate:  6.4% compared to 7.2% in FY 2023-24. Nominal GVA:  Growth rate: 9.5% compared to 8.5% in FY 2023-24. Quarterly GDP Estimates for Q4 FY 2024-25 (January-March 2025) Real GDP:  Estimated at  ₹ 51.35 l...

Recently the Ministry of Statistics and Program Implementation, Government of India, released the results of the latest Annual Survey of Industries (ASI) for the reference period FY23. The Annual Survey of Industries is conducted with the primary objective to provide a meaningful insight into the dynamics of change in the composition, growth and structure of various manufacturing industries in terms of output, value added, employment, capital formation and a host of other parameters. I note the following key points from the survey results. Key statistics (five-year period from FY19 to FY23) ·           Number of total factories in the country has grown at a CAGR of 1.2%, despite the government’s strong emphasis on manufacturing and multiple incentives. ·           Total fixed capital (investment) employed in manufacturing has recorded a growth of 4.4% CAGR . Total invested capital has grown at a CA...

Last week, the National Statistical Office (NSO) released the outcome of the latest Annual Survey of Industries (2021-2022) . The survey results provide important insights into the current state of the Indian industry. Some key highlights of the survey results are as follows: ·          Growth : The year 2021-22 witnessed a sharp rise in level as well as in the growth of the majority of the important economic parameters like invested capital, input, output, GVA, net income, and net profit registered by the sector and even surpassed the pre-pandemic level in absolute value terms. ·          The main drivers of this growth in 2021-22 were industries like the Manufacture of Basic metal, Coke & Refined Petroleum Products, Pharmaceutical Products, Motor vehicles, Food Products and Chemical and Chemical products. These industries, taken together, contributed about 56% of the total GVA of the sector and s...

The government has announced a spate of policy measures to put the economy back on the growth path. The measures and intent to encourage manufacturing in the country is however the most publicized and discussed about policy initiative. It is a clear departure from the extant policy of global cooperation and using bilateral and multilateral trade agreements to benefit from the resources and manufacturing prowess of partner countries , So far, we have not seen a comprehensive policy framework for the policy initiative. The basic principle of management would guide that to execute such a major policy intuitive, which may have significant impact on the lives of 140cr people, the planners must first lay down a detailed conceptual framework, which defines in very unambiguous terms, at least the following: (a)    The need for such policy initiative; especially the circumstances that have necessaitated the significant change in the policy direction and intent; ...