The government's decision to release the reports comes two days after over 200 scholars from across the globe issued a statement demanding release of all withheld reports produced by the NSO, including the household consumer expenditure survey that was junked.
The CSO said that the first revised estimates for 2016-17 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on May 31, 2017.
The findings of the report showed consumer spending falling for the first time in over four decades in 2017-18. The government has, however, termed it a "draft" report, reports Somesh Jha.
'Given that the economy is going through a slowdown, further downward revisions of the 2019-2020 growth estimates cannot be ruled out,' notes A K Bhattacharya.
Manufacturing sector, which constitutes over 77 per cent of the index, showed a decline of 0.4 per cent in June as compared to a growth of 7.5 per cent in the same month last year.
Growth in 2012-13 slipped to a decade-low of 4.5 per cent. The economy expanded 4.6 per cent in the first half (April-September) of this financial year.
It said the money supply recovered to its pre-demonetisation level in mid-2017 and is now increasing steadily, similar to the previous trend.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
For protein rich items such as meat and fish, eggs as well as milk and products, the inflation in May slowed compared to last month
It is difficult to reconcile the GDP numbers with other economic indicators.
Only 48.3 per cent of the rural households used LPG, while the figures were much higher in urban areas at 86.6 per cent, according to a NSO report.
Remonetisation exercise will eliminate cash squeeze by April 2017
IIP growth rises to 9-month high of 4.3 pc in August
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
India's monthly per capita income, the measure of standard of living, is likely to be at Rs 7,378.17.
Ahead of the Indo-European summit scheduled on November 30 in New Delhi, the Commission yesterday said the statistics underscore the growing importance of the emerging Indian economy in the world food trade and the overall trade with Europe, which has grown by 80 per cent since 2000.
Economic affairs secretary S C Garg said that all macroeconomic parameters are performing well.
Growth of capital goods at 9.6 per cent is inspiring as the investment cycle is expected to rebound in the coming months.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
Experts said a dip in consumption expenditure indicated an increasing prevalence of poverty in the country.
"Growth is expected to moderate gradually in China... pick up in India, and remain broadly stable in the Asean-5 region."
The pace of retail price rise in January 2016 is the highest since 6.46 per cent in September 2014.
The demonetisation seems to have impacted the GVA in the third as well as fourth quarter of 2016-17 which slipped to 6.7 per cent and 5.6 per cent respectively, from 7.3 per cent and 8.7 per cent.
Indian economy is witnessing stable growth momentum, says OECD.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
Millions of Indian children lack access to online education as they do not have smartphones, computers or an Internet connection.
The slowdown is especially pronounced in rural areas, which have suffered two consecutive dry years.
Cumulative sales of India's top passenger vehicle makers -- Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar -- increased to 206,418 units in February over 200,322 units in the same month last year, an increase of 3 per cent.
A day after masked goons entered Jawaharlal Nehru University and ran riot, injuring over 36 people with sticks, lathis and hammers, noted economist and professor C P Chandrasekhar resigned from a Narendra Modi government-appointed committee on statistics. The committee was set to hold its first meeting to review India's economic data. In his resignation letter, Professor Chandrasekhar wrote, "I regret to inform you that because of the situation in JNU where I stay, I will be unable to attend tomorrow's meeting." He was also quoted as saying, "The JNU's incident on Sunday has further undermined the faith in the system. It shows that we are now living in a different world and it's hard to work with a government in which you have lost faith."
The core sector growth for October 2007 declined to 4.5 per cent from 9.9 per cent in the same month last year on account of a slowdown in five of the six sectors that form the core-infrastructure industries index.
The government propagandists should refrain from premature celebrations and misplaced euphoria: Congress.
India's annual industrial output growth slowed to 4.2 per cent in July compared with an upwardly revised 4.4 per cent growth a month ago, government data showed on Friday.
IIP down due to poor show by manufacturing, mining and power sectors
The RBI projection of 6.9 per cent GVA growth for the current fiscal comes on the back of the Economic Survey last week forecasting economic growth of 6.5 per cent.
The CSO estimate is, however, a bit lower than 7.4 per cent growth projected by the Reserve Bank for the current fiscal.
Manufacturing sector, which constitutes over 75 per cent of the index, grew at 5.5 per cent in November compared to a decline in output by 4.6 per cent earlier
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
Central Statistics Office has come out with GVA to measure growth.
In the first quarter of FY14, real GDP growth estimated by the Central Statistics Office stood at 4.4 per cent on a factor cost basis, and at 2.4 per cent on a market price basis, the IMF said.
India economy clocked a five-year high growth rate of 7.6 per cent in 2015-16.
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