GDP of a country is equal to consumption + investment + government spending + export-import. The objective of this analysis is to measure the growth of GDP against constant & current prices, compare the growth of major sectors and its contribution to total GDP.
Note: After the “constant 2004-05 base price” the new base price based on the year 2011-12 was released in the year 2016. - GDP of “Current price” & Constant 2004-05 base price" is based on direct GDP calculation. - GDP of “Current price GVA” & “Constant 2011-12 base price” is based on GVA calculation.
In this entire analysis, the year 2010 represents the financial year 2009-2010.
Date source for this analysis
http://www.mospi.gov.in/
The values are in various sub-pages of the above-mentioned websites and we have manually copied the values of below said data variables into a *.CSV file. This file can be downloaded from GDP 2004-2005 price basis & GDP 2011-2012 price basis.
Abbreviations of column variables can be found in GDP data Variable abbreviations
This analysis was done in R Programming and the complete source code for re-producing the charts can be found in R Program - GDP
The below chart shows GDP in “constant 2004-05”, “constant 2011-12”, current price & current price GVA.
The below chart shows GDP, Import, Export & Trade deficit against four different price basis viz., constant 2004-05, constant 2011-12, current price & current price GVA. The percentage value on each point indicates the YoY growth. The values from the year 2001 to 2018 are plotted in this chart.
Look at the chart “constant 2011-12” - The gap between import & export is low in 2014, 2015, 2016 & 2017. Corresponding to these years, the GDP growth is more compared to other year growth.
Similarly on the chart “constant 2004-05” the gap between imports & export is less during 2006, 2007, 2008, 2010 & 2011. Corresponding to these years, the GDP growth is more compared to other years.
The below chart shows the total GDP & GDP of agricultural products. The percentage value given over each point of “GDP_AGRI” & “GVA_AGRI” is the percentage contribution of agricultural products to the overall GDP. From 2011 the GDP value is calculated based on the GVA basis. The values from the year 2001 to 2018 are plotted in this chart.