GDP/GNA CALCULATION AND FORMULAE

Base year of National Accounts is periodically revised to account for the structural changes that have taken place in the economy over time and to depict a better picture of the economy through macro-economic aggregates like Gross Domestic Product (GDP), National Income, consumption expenditure and other related aggregates and indicators. This enables users to assess performance of the economy in real terms by estimating the macro-economic aggregates at the prices of the selected year, known as “base year”. The estimates at the prevailing prices of the current year are termed as “at current prices”, while those prepared at base year prices are termed as “at constant prices”. Comparison of the estimates at constant prices, i.e. “in real terms”, over the years gives a measure of “real growth”. After introduction of the new series of National Accounts (Base 2011-12), back-series estimates of National Accounts Statistics (NAS) are compiled and released for the years preceding the new base year for completeness and comparability with old base data sets. The present release gives a snapshot of domestic product, capital formation (at industry/item level) and other macro-economic aggregates till the year 2004- 05, as per the new series of NAS with base year 2011-12. 







FORMULAE USED:
1. GVA at basic prices = CE + OS/MI + CFC + Production taxes less Production subsidies

2. GDP = ∑ GVA at basic prices + Product taxes - Product subsidies

3. NDP/NNI = GDP/GNI - CFC

4. GNI = GDP + Net primary income from ROW (Receipts less payments)

5. Primary Incomes = CE + Property and Entrepreneurial Income

6. NNDI =NNI + other current transfers from ROW, net (Receipts less payments)

7. GNDI = NNDI + CFC = GNI + other current transfers from ROW, net (Receipts less payments)

8. Gross Capital Formation (GCF) = Gross Savings+ Net Capital Inflow from ROW

9. GCF = GFCF + CIS + Valuables + “Errors and Omissions”

10. Gross Disposable Income of Govt. = GFCE + Gross Saving of General Government

11. Gross Disposable Income (GDI) of Households = GNDI – GDI of Govt. – Gross Savings of all Corporations

REMARKS ON THE FORMULAE:
1. Production taxes or subsidies are paid or received with relation to production and are independent of the volume of actual production. Some examples are: Production Taxes: Land Revenues, Stamps and Registration fees Production Subsidies: Subsidies to Railways, Subsidies to village and small industries

2. Product taxes or subsidies are paid or received on per unit of product. Some examples are: Product Taxes: Excise Tax, Sales tax, Service Tax and Import and Export duties Product Subsidies: Food, Petroleum and fertilizer subsidies

3. Other Current Transfers refers to current transfers other than the primary incomes

4. Estimate of Gross Capital Formation (GCF) derived from the formula 8 above is taken as the “firmer” estimate and the difference between this estimate and the sum of GFCF, CIS and valuables is taken as “errors and omissions”, mentioned in formula 9 above

HysIS from ISRO

The Indian Space Research Organisation’s (ISRO) Polar Satellite Launch Vehicle (PSLV-C43) successfully launched 31 satellites from Satish Dhawan Space Centre (SDSC) today in Sriharikota.

The PSLV-C43 lifted off at 9:57:30 (IST) from the First Launch Pad and injected India’s Hyper-Spectral Imaging Satellite (HysIS) into a 645 km sun-synchronous polar orbit 17 minutes and 19 seconds after the lift-off. Later, 30 foreign satellites were injected into their intended orbit after restarting the vehicle’s fourth stage engines twice. The last satellite was injected into its designated orbit 1 hour and 49 minutes after the lift-off.

After separation, the two solar arrays of HysIS were deployed automatically and the ISRO Telemetry Tracking and Command Network at Bengaluru gained control of the satellite. The satellite will be brought to its final operational configuration in the next few days. HysIS Project Director Shri Suresh K. said that the satellite is performing normally after the launch.

HysIS is an earth observation satellite built around ISRO’s Mini Satellite2 (IMS-2) bus weighing about 380kg. The mission life of the satellite is five years.

The primary goal of HysIS is to study the earth’s surface in both the visible, near infrared and shortwave infrared regions of the electromagnetic spectrum. Data from the satellite will be used for a wide range of applications including agriculture, forestry, soil/geological environments, coastal zones and inland waters, etc. HysIS had the company of one micro and 29 nano-satellites from eight countries, including Australia (1), Canada (1), Columbia (1), Finland (1), Malaysia (1), Netherlands (1), Spain (1) and USA (23). The total weight of these satellites was about 261.50 kg. Satellites from Australia, Columbia, Malaysia and Spain were flown aboard PSLV for the first time. These foreign satellites launched are part of commercial arrangements between Antrix Corporation Limited and customers.

Congratulating the ISRO scientists after the successful launch of PSLV C-43, ISRO Chairman Dr K. Sivan said it is a very proud moment for the nation as the HysIS was indigenously designed and built. “HysIS is a state-of-the-art satellite with many indigenous components developed by SAC, Ahmedabad and SCL, Chandigarh,” he said.

Dr Sivan said the main purpose of the HysIS is to exactly identify the objects on the surface of the earth with high precision and resolution. “HysIS will start sending images from the fifth day of its injection. With HysIS, we have 47 operational satellites that are active now in their orbits, meant for applications like communications, earth observation, scientific studies and navigation,” he added.

Dr Sivan said that the team has achieved another spectacular mission 15 days after the successful GSLV-MkIII/GSAT-29 launch. “Today once again we have proved our excellence,” he said. Mission Director Shri R. Hutton termed the launch as a grand and marvellous one with clockwork precision. “We have used a lighter version of PSLV today. It has once again proven its capabilities to launch multiple satellites into different orbits,” he said.

PSLV is a four stage launch vehicle with a large solid rocket motor forming the first stage, an earth storable liquid stage as the second stage, a high performance solid rocket motor as third stage and a liquid stage with engines as fourth stage.

Today’s was the 45th flight of PSLV and 13th one in the Core Alone configuration. So far, the PSLV has launched 44 Indian and nine satellites built by students from Indian universities. The vehicle has also launched 269 international customer satellites. In the last PSLV launch on September 16, PSLV-C42 had successfully launched two commercial satellites from UK-based Surrey Satellite Technology Limited. Dr Sivan thanked the foreign countries for posing faith in India to launch their Satellites. “Our customers are very happy that their satellites are precisely delivered into orbit,” said Dr Sivan.

Dr K. Sivan said in the month of December ISRO has planned two more launches, - GSAT 11 from French Guiana and GSAT 7A from Sriharikota. Next year, ISRO will have its long expected second mission to moon, Chandrayaan – II, expected in the month of January. “ISRO will launch its heaviest satellite, GSAT-11 on Dec 5, 2018, at 2.08 am from French Guiana and later GSLV-MkII will launch GSAT-7A from Sriharikota in December,” said Dr Sivan. “ISRO has planned twelve to fourteen launch missions in the year 2019, which includes Chandrayaan –II,” he added.

When asked why GSAT-11 is being launched from French Guiana, Director, U.R. Rao Satellite Centre, Shri P. Kunhikrishnan said GSAT-11 weighing 5.86 ton cannot be carried by the GSLV Mk – III which has the capacity to lift only up to four-ton class payloads. Though its capacity is being augmented gradually to carry much heavier satellites, the national space agency has to go in for launches from abroad to meet the current requirement. 

Speaking on the Gaganyaan, Dr Sivan said the process is going in the right direction and ISRO is planning to launch the first unmanned mission as a precursor to Gaganyaan by December 2020, followed by one more mission by July 2021. He further added that ISRO plans to accomplish the manned mission by December, 2021.

What is Kimberley Process ?

This year was the fifteenth anniversary of KPCS. Since its launch in 2003, the Kimberley Process has contributed towards peace, security and prosperity. It has proven to be an effective multilateral tool for conflict prevention in stemming the flow of conflict diamonds. The Kimberley Process has made valuable developmental impact in improving the lives of most people dependent on the trade in diamonds.

On expansion of scope KP India stated that KPCS has a well-structured process and any issues discussed should be in relation to trade without mixing up with non-trade issues.

 The next Intersessional session is slated to be held in India as Chair. Botswana and the Russian Federation will serve as Vice-Chair during the period of 2019-2020.

India is the founding member of KPCS and is actively involved in KP activities to ensure that almost 99% of the diamond trade in the world is conflict free. Indiais committed to maintain KP as an efficient and effective process in order to ensure the conflict diamond free status. India is at the forefront in addressing the issue of differentiation between Natural Diamonds and Lab Grown Diamonds and ensure responsible business in this area.

GSAT-11

Indian Space Research Organisation’s (ISRO) heaviest and most-advanced high throughput communication satellite GSAT-11 was successfully launched from the Spaceport in French Guiana during the early hours today.

The launch vehicle Ariane 5 VA-246 lifted off from Kourou Launch Base, French Guiana at 02:07 am (IST) carrying India’s GSAT-11 and South Korea’s GEO-KOMPSAT-2A satellites, as scheduled. Ariane 5 is one of three launch vehicles operated by Arianespace along with Soyuz and Vega.

After a 30-min flight, GSAT-11 separated from the Ariane 5 upper stage in an elliptical Geosynchronous Transfer Orbit. The achieved orbit was very close to the intended one.

The 5,854-kg GSAT-11 will provide high data rate connectivity to users of Indian mainland and islands through 32 user beams in Ku-band and 8 hub beams in Ka-band.

“GSAT-11 will boost the broadband connectivity to rural and inaccessible Gram Panchayats in the country coming under the Bharat Net Project, which is part of Digital India Programme,” ISRO Chairman Dr K Sivan said.

The Bharat Net Project aims to enhance the public welfare schemes like e-banking, e-health, e-governance among others.

He said GSAT-11 will act as a forerunner to all future high throughput communication satellites. “Today’s successful mission has boosted the confidence of the entire team,” Dr Sivan added.

Post-separation, ISRO's Master Control Facility at Hassan in Karnataka took over the command and control of GSAT-11 and found its health parameters normal.

The scientists will undertake phase-wise orbit-raising manoeuvres in the days ahead to place the satellite in the Geostationary Orbit (36,000 km above the equator) using its on-board propulsion systems. GSAT-11 will be positioned at 74-degree east longitude in the geostationary orbit.

Subsequently, the two solar arrays and four antenna reflectors of GSAT-11 will be deployed in orbit. The satellite will be operational after the successful completion of all in-orbit tests.

In the last 21 days, ISRO successfully completed three satellite and two launch vehicle missions.