Coal news and updates

Q2 GDP grows 4.8% y-o-y

November 29: Estimates of GDP for the second quarter (July-September, 2013-14) with factor cost at constant (2004-05) prices is estimated at Rs 13.68 lakh crore against Rs 13.05 lakh crore in Q2 of 2012-13, showing a growth rate of 4.8% over the corresponding quarter of the previous year.

The data was released by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, in an official release.

The economic activities which registered significant growth in Q2 of 2013-14 over Q2 of 2011-12 are agriculture, forestry and fishing at 4.6%, electricity, gas and water supply at 7.7% construction at 4.3%, financing, insurance, real estate and business services at 10% and community, social and personal services at 4.2%.

However, the growth rates in mining and quarrying is estimated at (-)0.4%, manufacturing at 1%, and trade, hotels, transport and communication at 4% per cent in this period.

According to the latest estimates available on the Index of Industrial Production (IIP), the index of mining, manufacturing and electricity, registered growth rates of (-) 0.1%, 1.2% and 8.4%, respectively in Q2 of 2013-14.

The key indicators of the construction sector, namely, production of cement and consumption of finished steel, registered growth rates of 5.9% and 1.3%, respectively in Q2 of 2013-14.

According to the latest estimates available on the Index of Industrial Production (IIP), the index of mining, manufacturing and electricity, registered growth rates of (-) 0.1%, 1.2% and 8.4%, respectively in Q2 of 2013-14. The key indicators of the construction sector, namely, production of cement and consumption of finished steel, registered growth rates of 5.9% and 1.3%, respectively in Q2 of 2013-14.

Among the services sectors, key indicators of railways, namely, the net ton kilometres and passenger kilometres have shown growth rates of 3.7% and (-) 2.5%, respectively in Q2 of 2013-14. In the transport sector, the sale of commercial vehicles, cargo handled at major ports, cargo handled by the civil aviation and passengers handled by the civil aviation registered growth rates of (-)22.1%, 5.9%, 0.4% and 12.6%, respectively in Q2 of 2012-13 over Q2 of 2012-13. The other key indicators, namely, aggregate bank deposits, and bank credits have shown growth rates of 12.0%, and 15.4%, respectively as on September 2013-

According to the First Advance Estimates of Production of foodgrains, oilseeds and other commercial crops for 2013-14 released by the Department of Agriculture and Cooperation, production of coarse cereals, pulses and oilseeds are expected to grow by 4.9%, 1.9% and 14.9% respectively during the Kharif season of 2013-14 as compared to the production of these crops in the Kharif season of 2012-13.

Apart from production of kharif crops, the growth in agriculture, forestry & fishing estimates of GDP in Q2 are based on the estimated production of fruits and vegetables, other crops, livestock products, forestry and fish.