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India’s advance estimates of GDP Key takeaways from it.

  Jan 14, 2021

India’s advance estimates of GDP Key takeaways from it.

Q. What is the news?

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

For Budget calculations

Q. How are the First Advance Estimates arrived at before the end of the concerned financial year?

  1. Index of Industrial Production (IIP) of first 7 months of the financial year
  2. Financial performance of listed companies in the private corporate sector available up to quarter ending September, 2020
  3. The 1st Advance Estimates of crop production,
  4. The accounts of central & state governments,
  5. Information on indicators like deposits & credits, passenger and freight earnings of Railways, passengers and cargo handled by civil aviation, cargo handled at major sea ports, sales of commercial vehicles, etc., available for first 8 months of the financial year.

Q. How is the data extrapolated?

Q. What are some of the Key takeaways from the First Advance Estimates for 2020-21?

1 GDP Growth Rate:

2 Absolute level of real GDP: