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Economy

The daily wage rate data received from the different villages are first normalized for eight hours working day and then the simple arithmetic average of these normalized daily wage rates is worked out. State-wise averages are restricted only to those occupations where the number of quotations is five or more in order to avoid inconsistency in wages paid to different categories of workers on account of difference in number of quotations. The average wage rates at all-India level are derived by dividing the sum total of wages of the measured states by the number of quotations.
Consumer Price Indices (CPI) measure changes over time in general level of prices of goods and services that households acquire for the purpose of consumption. CPI numbers are widely used as a macroeconomic indicator of inflation, as a tool by governments and central banks for inflation targeting and for monitoring price stability, and as deflators in the national accounts. CPI is also used for indexing dearness allowance to employees for increase in prices. CPI is therefore considered as one of the most important economic indicators.
The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mining, electricity and manufacturing. The all India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period. It is compiled and published monthly by the Central Statistical Organisation (CSO) six weeks after the reference month ends.
The trade balance is the difference between the monetary value of exports and imports of output in an economy, it is one of the most important macroeconomic parameter. Data contains Exports, Imports and Trade Balance of India (in Rs Crore and Us $ Million) from 1949-50. It also contains the percentage rate of change of exports as well as imports with respect to the previous year. The data has been provided by Department of Economic Affairs.
The International Labour Organisation (ILO) international definition of employment provides separate criteria for persons in paid employment and persons in self-employment in order to accommodate the idea that employment covers any work, be it for wage or salary, profit or family gain, including the production of goods for own consumption. The data contains to sector-wise information on employment.
Gross domestic product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.Gross domestic product (GDP) at constant prices refers to the volume level of GDP. Constant price estimates of GDP are obtained by expressing values in terms of a base period .Get data regarding quarterly estimates of Gross Domestic Product at constant prices.
Saving represents the excess of current income over current expenditure of various sectors of the economy. It is the balancing item on the income and outlay accounts of the producing enterprises, households, Government administration and other final consumers. Estimates of domestic saving are prepared at current prices only by type of institutions i.e., public sector, private corporate sector and household sector (residual), separately. Data contains Gross Domestic Savings, Net domestic savings, Net capital inflow and Finances for gross capital formation.
Capital Account and Current account are two primary components of balance of payments. Balance of Payment (BoP) of a country is the Systematic record of all economic transactions between the residents of a foreign country. External Payments- Current & Capital Account as proportion of GDP at current prices for Eleventh Plan (2007-12) and Twelfth Plan (2012-17) have been provided in the data.

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