First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation, 2014-15

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2014-15 (with Base Year 2011-12) as per the revised policy. Second Revised Estimates of the years 2011-12 to 2013-14 (with Base Year 2011-12) have also been released as per the calendar of revision of base year.

 Nominal GDP or GDP at current prices for the year 2014-15 is estimated as Rs. 124.88 lakh crore while that for the year 2013-14 is estimated as Rs. 112.73 lakh crore, exhibiting a growth of 10.8 per cent during 2014-15 as against 13.3 per cent during 2013-14.

Real GDP or GDP at constant (2011-12) prices for the years 2014-15 and 2013-14 stands at Rs.105.52 lakh crore and Rs. 98.39 lakh crore, respectively, showing growth of 7.2 per cent during 2014-15, and 6.6 per cent during 2013-14.

Nominal Net National Income (NNI) at current prices for the year 2014-15 stands at Rs. 110.08 lakh crore as against Rs. 99.34 lakh crore in 2013-14, showing an increase of 10.8 per cent during 2014-15 as against an increase of 13.2 per cent in the previous year.

Gross Saving during 2014-15 is estimated as Rs. 41.17 lakh crore as against Rs. 37.25 lakh crore during 2013-14. Rate of Gross Saving to GNDI for the year 2014-15 is estimated as 32.3 per cent, the same as in 2013-14.

Per Capita Income, i.e., Per Capita Net National Income at current prices, is estimated as Rs.79,412 and Rs. 86,879 respectively for the years 2013-14 and 2014-15.  Correspondingly, Per Capita PFCE at current prices, for the years 2013-14 and 2014-15 is estimated at Rs. 52,022 and Rs.56,772 respectively.

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A Day in the Life of a Datum

Each day we create and consume massive amounts of data. This slide show illustrates the journey one datum goes through from inception to reality.

Big data and the Internet of things (IoT) are disrupting entire markets and merging our virtual worlds with our physical worlds. Within the last two years, more than 90 percent of the world's data has been created. IDC predicts that the data we create and copy annually will reach 44 zettabytes, or 44 trillion gigabytes, by 2020. Salesforce projects the number of connected devices available will reach 75 billion by 2020. Data surrounds us. Whether it's on our mobile phones, wearables, or home and/or office devices, we create and consume massive amounts of it each day. Have you ever stopped to think about where and how that data started its day? Who it touched before you? Or what happens to it afterward? In the following slide show, Calvin Hsu, a Citrix vice president, illustrates the journey one datum goes through from inception to reality, highlighting the phases of data—at rest, in use and on the move—and the types of devices, applications and services that data reaches along the way.

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Info Nuggets - 20120817

LPG Cylinder Transparency

To make the supply of LPG cylinders for domestic use more transparent, the ministry for petroleum & natural gas has introduced an LPG transparency portal in collaboration with the OMCs -- Oil Marketing Companies.

About 130 million households in India use LPG cylinders for cooking.

OMSc supply 3.2 million cylinders per day.

The present subsidy on one LPG cylinder is Rs. 503.

The subsidy in 2012-13 is expected to be Rs. 43000 cr.

Those in power seem to be having high consumption rate of LPG cylinders in 2011-12. Mayawati, former CM of UP (91 cylinders subsidy of Rs. 31318); A. Raja, former minister for telecom (89 cylinders, while he was in Tihar Jail)

Use of tobacco: A study

According to the Global Adult Tobacco Survey (GATS) conducted between October 2008 and March 2010, with 275 million tobacco users, India ranks second globally, very close to China having about 301 million users.

Chewing tobacco accounted for almost all of the smokeless tobacco consumption in India.At nearly 33 per cent, India has the highest male smokeless tobacco users.

With more than 60 per cent, Russia has the highest number of smokers, and is closely followed by China at 53 per cent.

With 6.1 mean cigarettes a day smoked, India has the lowest figure among the 16 countries.

While 23 per cent of men were smokers in India, in the case of women, the percentage of current smokers is 2.9, and figures as the fourth from the bottom of the 16 countries analysed.

But smokeless tobacco use among women In India is 18.4 per cent, second only to Bangladesh (28.7 per cent).

The prevalence of male smokers in the 15-19 age group in India is 5.4 per cent, much less than Russia’s 38 per cent.

The data from 14 low and middle-income countries that “collectively contribute to most of the disease burden attributable to tobacco use” was compared with that of the U.K and the U.S.

Website: Scientific Social Network

The website knimbus is designed as a dedicated knowledge discovery and collaborative space for researchers and scholars. It is active across 450 campuses in India which includes IITs, IIMs, Govt. research centres such as CSIR, DRDO etc.,

Website: Customer Education on Insurance

Insurance Regulatory ad Development Authority (IRDA) has launched the website www.policyholder.gov.in to educate the customers on insurance plans, provide tips on how to choose and buy plans, claim procedures, complaints handling, handbooks and so on.