Central Statistics Office News
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Vegetable inflation for November stood at 36 percent against 26 percent in October. Pulses and products recorded inflation of 13.94 percent in November against 11.72 percent in October.
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Inflation rate in cereals and products grew 1.66 percent in September, while it was 1.3 percent in August.
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The CSO estimate is, however, a bit lower than 7.4 percent growth projected by the Reserve Bank for the current fiscal.
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According to Fitch, the pick up in growth is likely as the influence of one-off policy-related factor which was dragging growth has now waned.
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The output growth in manufacturing sector, which constitutes 77.63 per cent of the index, however decelerated to 3.1 per cent in August from 5.5 per cent a year ago.
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The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month.
The total number of items in the index has increased to 809 as compared to 620 earlier.
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The Central Statistics Office is due to unveil on Tuesday the revised advance estimate for GDP growth for 2016-17 after factoring in the note ban impact in the December quarter.
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According to the first advance estimates, released by the Central Statistics Office (CSO) Friday. The economic growth is expected to be 7.1 percent in FY 2016-17 as compared to the growth rate of 7.6 percent in FY 2015-16.
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Indian economy has been losing momentum since middle of financial year 2014-15, a new study says, citing corporate results and 'real economic indicators', while questioning the 'counter-intuitive' official GDP data.
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The Indian economy is expected to grow at 7.2 per cent in 2016-17, a tad lower than Central Statistics Office's advance estimates of 7.6 per cent in the current fiscal due to weak investments and external headwinds, says BMI Research.
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India's GDP for the second quarter of 2015-16 is 7.4%, slightly more than 7.1% growth observed in the first quarter.
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The common man's struggle with rising prices is not yet over. Data released by the Central Statistics Office showed the consumer price index rose an annual 5% in October compared to 4.41% in September.
Clearing the air over the new GDP numbers, National Statistical Commission (NSC) chairman Pronab Sen on Tuesday said that Central Statistics Office (CSO) is following the correct methodology for computing national accounts and is on the right track.
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The first series (revised) has been compiled for January which will be released on February 12.
The shift in GDP computation by the Central Statistics Office raises more questions than the solutions which it offers, the economic research department of the country's largest lender SBI has said.
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