GDP Growth 7.1% - Government Debt 11.1% - Economic Tragedy
Fourth budget was presented last week but very Curious figures not disclosed are that –
Growth rate in Agriculture was barely (-) 0.2%, 1.1%, and 4.1% only – this means NEGATIVE Growth in AGRICULTURE – substantially negative in Per Capita terms when Growth in GDP is reported be 25% from 2013-14 to 2016-17.
Growth rate in Industry was barely 5.9%, 7.3%, and 5.2% only – this means Moderate Growth in INDUSTRY – substantially Moderate in Per Capita terms of 3.9%, 5.3% and 3.2% when Growth in GDP is reported be 25% from 2013-14 to 2016-17.
ii. General Government debt (GGD)-GDP ratio worked out to 68.6% at end-March 2016, significantly lower than historical high at 83.3% in 2003-04 owing to fiscal consolidation process at Centre and State level. [Table 1.4]
Government Debt 83.3% FY04, 66.8% Fy14 > 77.16% 2 Yrs.
Arun Jaitley admitted to the fact that Government Debt was over 83.3% in Last Year of BJP Rule Earlier [2003-04] which was reduced to under 66.8%, but is rising again, 23.6% in just 2 Years FromRs.75,34,343 Cr to Rs.93,11,705 Cr = Rs.17,77,362 Cr FY14-FY16.
GDP Growth at Market Prices was barely up from Rs.1,12,72,764 Cr to Rs.1,35,76,086 Cr = Rs.23,03,322 Cr; GDP/Debt 77.16% Two Yrs
INSPITE OF LOW PETROLEUM & COMMODITY PRICES, RISING DEBT, But Agriculture Growth Was NEGATIVE and 4.1% for Industry Avg in Per Capita in Last Three Years. Middlemen & Moneylender Prospered Primarily in Last 3 Years.
http://indiabudget.nic.in/ub2017-18/frbm/frbm1.pdf - http://indiabudget.nic.in/budget2016-2017/ub2016-17/frbm/frbm1.pdf
MACRO-ECONOMIC FRAMEWORK STATEMENT 2017-18
GDP growth - As per the First Advanced Estimates released by the Central Statistics Office, the economy is estimated to grow at 7.1 per cent in 2016-17, as compared to the growth of 7.6 per cent achieved in 2015-16. The growth in agriculture, industry and services is estimated at 4.1 per cent, 5.2 per cent and 8.8 per cent in 2016-17 as opposed to 1.2 per cent, 7.4 per cent & 8.9 per cent respectively in 2015-16.
As per the Advanced Estimates released by the Central Statistics Office, the economy is estimated to grow at 7.6 per cent in 2015-16, higher than growth of 7.2 per cent achieved in 2014-15. The growth in agriculture, industry and services is estimated at 1.1 per cent, 7.3 per cent and 9.2 per cent in 2015-16 as opposed to (-) 0.2 per cent, 5.9 per cent and 10.3 per cent respectively in 2014-15.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 9871056471, 9718280435, 9650421857
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