Central Statistics Office Current Affairs - 2020
The Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation has released the first advance estimates of National Income for 2018-19.
Highlights of the Estimate
The Estimate makes the following observations:
- The Indian economy is expected to grow at 7.2 per cent in the financial year 2018-19 which is higher than the 6.7 per cent GDP growth in the previous financial year 2017-2018.
- The Real GVA (Gross Value Added) is expected to grow at 7 per cent in the current fiscal as against 6.5 per cent in 2017-18.
- The CSO estimates that the expansion in activities in agriculture, forestry and fishing is likely to increase to 3.8 per cent in the current fiscal from 3.4 per cent in the preceding year.
- The manufacturing sector is expected to grow at 8.3 per cent in 2018-19, up from 5.7 per cent in 2017-18.
- India’s per capita income in real terms (at 2011-12 prices) during 2018-19 is likely to attain a level of Rs 91,921 as compared to Rs 86,668 for the year 2017-18. The per capita income would grow at a rate of 6.1 per cent.
Central Statistics Office (CSO)
The Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation coordinates the statistical activities in the country and evolves statistical standards.
The functions of the CSO include National Income Accounting, conducting of Annual Survey of Industries, Economic Censuses and its follow up surveys, compilation of Index of Industrial Production, as well as Consumer Price Indices for Urban Non-Manual Employees, Human Development Statistics, Gender Statistics, imparting training in Official Statistics, dissemination of statistical information, work relating to trade, energy, construction, and environment statistics, revision of National Industrial Classification, etc
Tags: Central Statistics Office • Consumer Price Indices • CSO • Index of Industrial Production • Ministry of Statistics and Programme Implementation
According to data released by Central Statistics Office (CSO), factory output measured in terms of Index of Industrial Production (IIP) grew 8.1% in October 2018 as against 4.5% in September 2018. The growth was aided by favourable base effect and robust output in all key sectors—manufacturing, electricity and mining. IIP is the closest approximation for measuring economic activity in the country’s business landscape.
Breakaway of October 2018 IIP
Sector wise Performance: Manufacturing sector output grew 7.9% in October 2018 from 4.6% in September 2018 and 2% a year ago. Electricity production growth grew to 10.8% in October from 8.6% in September 2018 and 3.2% a year ago. Mining activity grew to 7% in October 2018 from 0.2% in September 2018 from de-growth of (-) 0.2% last year.
Use-based Performance: Primary goods grew by 6.0%, intermediate goods by 1.8% and infrastructure/construction goods by 8.7% as compared to growth in October 2017. Consumer durables output also grew 17.6%, from 5.2% in September 2018, indicating higher production during the festive season. Consumer non-durables grew 7.9% in October 2018 as compared to 6.1% in September 2018.
Index of Industrial Production (IIP)
IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period. It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation (MoSPI). Its base year is 2011-12.
It comprises 407 individual items. Sector wise, the items included falls into 3 categories viz. Manufacturing (405 items), Mining (1 items) & Electricity (1 item). he weights of the three sectors are 77.63%, 14.37%, 7.9% respectively. The combined weightage of 8 core Industries in IIP is 40.27%.
In use wise composition 407 individual items are divided into basic goods, capital goods, intermediate goods and consumer goods. Further, consumer goods is divided into consumer durables and consumer non-durables. In this case maximum weight is of basic goods, followed by Consumer Goods, followed by Intermediate and Capital Goods.
Tags: Business • Central Statistics Office • Economy • IIP • Index of Industrial Production