Sign up now
to enroll in courses, follow best educators, interact with the community and track your progress.
Download
Components of GDP (in Hindi)
2,424 plays

More
This lesson basically highlights the relevance of Consumption expenditure and related trends.

Abhishek Srivastava is teaching live on Unacademy Plus

Abhishek Srivastava
GS faculty and subject matter expert|4 yrs Teaching Exp.|HiStory, Geog. and Polity courses with interrelation, logic & chronology.

Unacademy user
thank you so much sir ......these lessons are very helpful in preparations ..sir please upload all lessons on youtube.
Sir plzzzz add remaining part of Ist Chapter
thanking you gurujji
  1. Economic Survey 2017-18


  2. An Overview of India's Economic Performance in 2017-18 GDP & its components


  3. ABHISHEK SRIVASTAVA . Category leader at Unacademy . Top educator with more than 2 mn views . Appeared in UPSC CSE Mains twice . Qualified SSC CGL, IBPS PO, IIT JEE . Appeared in RBI Grade B Mains . Courses: o Editorial analysis- Oct,Nov & Dec'17 o News Analysis- Nov & Oct'17 o Crash courses . Polity, Modern, Ancient & Medieval History o Ncert Class VI History Summary o Delhi Sultanate o Essay writing https://unacademy.com/userlabhishek6077 F@abhishek6077


  4. VOL.II Chapter I: An Overview of India's Economic Performance in 2017-18 1. GDP growth in 2017-18 2. GDP and its Components 3. Savings and Investment 4. Public Finance 5. Prices and Monetary Management 6. External Sector 7. Prospects of Growth for 2018-19 8. Sectoral Developments 9. Sustainable Development, Energy and Climate Change


  5. GDP AND ITS COMPONENTS Consumption expenditure has been the major driver, sixty per cent of the total GDP growth betweern . contribution increased to over 95 per cent in 2016-17, o Private Final Consumption Expenditure (PFCE) o Government Final Consumption Expenditure accounting for nearly 2012-13 and 2015-16 which is attributed to higher growth of both and (GFCE), particularly the latter. [The Private Final Consumption Expenditure (PFCE) is defined as theexpenditure incurred on final consumption of goods and services by the resident households and non-profit institutions serving households (NPISH) Government final consumption expenditure (GFCE) is an aggregate transaction amount on a country's national income accounts representing government expenditure on goods and services that are used for the direct satisfaction of individual needs (individual consumption) or collective


  6. needs of members of the community (collective consumption) It consists of the value of the goods and services produced by the government itself other than own-account capital formation and sales and of purchases by the government of goods and services produced by market producers that are supplied to households - without any transformation as social transfers in kind ] Growth of GFCE was nearly 21 per cent in 2016-17, against an average growth of 3.5 per cent during 2012-13 to 2015-16. This owed mainly to the payment of higher wages and salaries to the government staff that followed the implementation of the recommendations of the Seventh Pay Commission The growth of both PFCE and GFCE is expected to be lower in 2017-18 as compared to 2016-17. The share of investment, and in particular that of fixed investment in the GDP continuously declined between 2011-12 and 2016-17. While fixed investment was 34.3 per cent of GDP in 2011-12, it declined to 27.1 per cent in 2016-17.


  7. Although fixed investment is expected to grow at a faster rate in 2017-18 than in 2016-17 (thus pointing to some recovery in investment),it is still not high enough to prevent a further reduction in the share of fixed investment in GDP After nearly stagnating in 2014-15 and declining in 2015-16, exports of goods and services began to pick Imports also increased but at a slower pace, thus helping Exports are expected to grow at 4.5 per cent in up in 2016-17 in narrowing the current account deficit in 2016-17 2017-18, while . imports are expected to grow at a faster rate As a result, the share of net exports of goods and services (as reflected in National Accounts Statistics) in GDP is expected to decline from () 0.7 per cent in 2016-17 to () 1.8 per cent in 2017-18 Final Consumption Expenditure In the 6 years between 2011-12 and 2016-17, the share of PFCE averaged 57.5 per cent in total GDP and its growth averaged 6.8 per cent


  8. PFCE has been the single most important driver of GDP growth and particularly so in 2016-17, when it contributed nearly two-thirds to GDP growth. Added to this, the contribution of GFCE was 29 per cent. As per the 1st AE of 2017-18, the contribution of PFCE and GFCE to GDP growth is estimated to be 54.3 per cent and 14.4 per cent respectively. While PFCE contribution reverted to the average levels achieved in 2011-12 to 2015-16, the contribution of GFCE continues to be higher than that average Further disaggregation of PFCE (details of which are available only upto 2015-16) reveals that the share of non-durable goods (bulk of which is food products) declined somewhat between 2011-12 and 2015-16 (after 2013-14) (Figure 5). This reduction is on expected lines, as with an increase in income levels, the share of food products and in particular food grains tends to decline (For analysis based on Engel's elasticities) There was a faster reduction in this share in terms of constant prices, which is associated with lower value of deflator (implying higher price rise) for some of food products viz. fish & seafood, fruits, etc. as compared to


  9. other commodity groups during this period. Share in Private Consumption Expenditure at current prices (per cent) 46.6 46.2 45.6 46.3 47.4 43.1 42.4 43.4 42.5 41.0 7.9 7.6 8.3 8.3 8.3 2011-12 2012-13 2013-14 2014-15 2015-16 Durable goods Semi-durable goods Non-durable goods Services


  10. Mon | 05:51 PM Reviews & Ratings Thank You Vishnu Choure Thank you for the course, we really need it. Please keep doing this great work, I am really fond of your teaching, plain and simple Thank You, Abhishek sir Keep Learning!! Harshita Simple and crisp explanation of the editorial in short time span. Lots of thanks to Abhishek Sir for bringing this course. Time saving and effective. Thanks for all your amazing courses be it crash course in mih, ancient or mediaeval history. TArnika Negi very very useful please continue it.. thanks a lot Darshan Mp loving w,.hank you....kxepr poig