State Income

State Income

State Domestic Product (SDP) is defined as a measure in monetary terms of the volume of all goods and services produced within the boundaries of the State during a given period of time, accounted without duplication. This covers all the goods and services produced within the State.

Capital Assets i.e. Plants & Machinery and Equipments are employed to produce goods. A part of these Fixed Capital Assets is used in the process of production which is known as Consumption of Fixed Capital (CFC) or Depreciation.

CFC is deducted from Gross State Domestic Product (GSDP) to obtain Net State Domestic Product (NSDP).

Functions of State Income Section

1. Preparation of estimates of State Domestic Product of the State both at current and constant prices on annual basis. i.e.

  • (a) Gross State Domestic Product
  • (b) Net State Domestic Product
  • (c) Per Capita Income

 

2. Estimates are prepared as per guidelines of Central Statistical Organization.

3. These estimates are discussed in the Central Statistical Organization, New Delhi every year and are revised accordingly.

4. Various studies/surveys are conducted from time to time to update rates and ratios being used in preparation of the estimates of State Domestic Product.

5. Preparation of District level estimates of

  • (a) Gross State Domestic Product
  • (b) Net State Domestic Product
  • (c) Per Capita Income.

 

6. Preparation of Annual report on estimates of State Domestic Product of Haryana.

Base Year

1. The base year of the State Domestic Product estimates is revised from time to time.

2. Presently, estimates of State Domestic Product are prepared with base year 2004-05.

Data Source

1. Primary Data collected

  • (a) From Headquarter of Government Departments
  • (b) From District offices of various Government Departments through District Statistical Officers (DSOs).

 

2. Secondary Data

  • (a) From Boards and Corporations of State as well as Central Govt.
  • (b) Central Statistical Organization and Reserve Bank of India.
  • (c) The Annual Reports of various Organizations
  • (d) Survey/study reports
  • (e) Results of Annual Survey of Industries (ASI).

 

State Domestic Product at Current and Constant Prices

1. The estimates of SDP at current prices are obtained by evaluating the product at prices prevailing during the accounting year.

2. The effect of changes in the prices is eliminated by evaluating the goods and services at the prices prevailing at certain fixed period known as base year. The estimates, thus, obtained are known as SDP at constant prices.

Compilation of State Domestic Product (SDP)

1. The economy has been divided into thirteen sectors for the purpose of calculation of SDP. These thirteen sectors have further been classified in three broad sectors.

(a) Primary Sector

  • Agriculture
  • Forestry
  • Fishing
  • Mining & Quarrying

 

(b) Secondary Sector

  • Manufacturing - Registered & Un-registered
  • Construction
  • Electricity, Gas and Water Supply

 

(c) Tertiary Sector

  • Trade, Hotels and Restaurants
  • Transport, Storage and Communication
  • Banking and Insurance
  • Real Estate, Ownership of Dwellings, Legal & Business Service
  • Public Administration
  • Other Services

Estimation of State Domestic Product

1. Prepared by adopting income originating method.
2. Three Approaches are adopted for estimation of State Domestic Product

(a) Production approach

  • (i) Agriculture
  • (ii) Forestry and Logging
  • (iii) Fishing
  • (iv) Mining & Quarrying
  • (v) Registered Manufacturing sectors.

 

(b) Income approach

  • (i) Un-registered Manufacturing
  • (ii) Transport, Storage & Communication
  • (iii) Real Estate, Ownership of Dwellings, Legal & Business Services
  • (iv) Trade, Hotels & Restaurants
  • (v) Public Administration & Defence
  • (vi) Electricity, Water Supply and Other Services sectors
  •  

(c) Expenditure approach

  • (i) Construction Sector only
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