New Delhi: The Statistics Ministry will release the first advance estimates of National Income, or GDP, data 2019-20 on January 7 amidst an over six-year low growth of 4.5 per cent registered in the July-September period, and 5 per cent GDP growth in the first quarter of the fiscal, official sources said on Monday.
With growth decelerating, the Reserve Bank of India (RBI), at its December monetary policy review, pegged India's economic growth forecast down to 5 per cent.
The advance estimates are compiled using the Benchmark-Indicator method where sector-wise estimates are obtained by extrapolation of indicators like the Index of Industrial Production (IIP) in the first seven months of the fiscal, financial performance of the listed private companies up to the quarter ending September, the first advance estimates of crop production, accounts of Central and state governments, indicators of deposits of credits, passenger and freight earnings of the railways, civil aviation and ports, and sales of commercial vehicles, among others, available for the first eight months of the fiscal.
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