Question 1)

i) Based on the data provided below for Half yearly data for various years both at current and constant prices, Calculate the GDP deflator of Indian economy of HY1 2017-18 and HY1 2016-17. Also calculate the inflation rate between HY1 2017-18 and HY1 2016-17 (Formula and correct answers will have equal weightage) (5 marks)

STATEMENT 8: ESTIMATES OF EXPENDITURES OF GDP IN H1 (APRIL-SEPTEMBER) OF 2017-18 (at current prices) APRIL-SEPTEMBER (HI) ( in crore) Rates of GDP (%) Expenditures of Gross Domestic Product Item in H1 in H1 2015-16 2016-17 2017-18 2016-17 2017-18 1. Private Final Consumption 3706644 4148798 4531531 57.4 57.3 Expenditure (PFCE) 2. Government Final Consumption 775692 940686 1062634 13.0 13.4 Expenditure 3. Gross Fixed Capital Formation 1947914 2034477 2129428 28.1 26.9 (GFCF) 4. Change in Stocks 149704 162691 171554 2.2 2.2 5. Valuables 95343 82397 186777 1.1 2.4 6. Exports 1358392 1396144 1441952 19.3 18.2 7. Less Imports 1553251 1512548 1701298 20.9 21.5 8. Discrepancies 66313 -21919 83537 -0.3 1.1 GDP 6546752 7230726 7906117 100.0 100.0STATEMENT 6: ESTIMATES OF EXPENDITURES OF GDP IN HI (APRIL-SEPTEMBER) OF 2017-18 (at 2011-12 prices) APRIL-SEPTEMBER (HI) R. in crore) Rates of GDP (%) Expenditures of Gross Domestic Item Product in H1 in H1 2015-16 2016-17 2017-18 2016-17 2017-18 1. Private Final Consumption 2937396 3177410 3386459 53.7 54.0 Expenditure (PFCE) 2. Government Final 613085 714322 787364 12.1 12.5 Consumption Expenditure 3. Gross Fixed Capital Formation 1698866 1787262 1842717 30.2 29.4 (GFCF) 4. Change in Stocks 135287 145289 150979 2.5 2.4 5. Valuables 87221 71469 181123 1.2 2.9 6. Exports 1182494 1203240 1217865 20.3 19.4 7. Less Imports 1280944 1252514 1383021 21.2 22.0 8. Discrepancies 122565 74185 92323 1.3 1.5 GDP 5495970 5920663 6275810 100.0 100.0STATEMENT 5: ESTIMATES OF GVA AT BASIC PRICES IN HI (APRIL-SEPTEMBER) OF 2017-18 (at 2011-12 prices) APRIL-SEPTEMBER (HI) Rin crore) Percentage change Industry GVA at Basic Price in H1 Over previous year H1 2015-16 2016-17 2017-18 2016-17 2017-18 1. agriculture, forestry & fishing 678162 700007 714253 3.2 2.0 2.mining & quarrying 153508 151853 154877 -1.1 2.0 3.manufacturing 922847 1007877 1048682 9.2 4.0 4.electricity, gas, water supply & 113236 121867 130756 7.6 7.3 other utility services 5.construction 431319 447110 457458 3.7 2.3 6. trade, hotel, transport, 941621 1020022 1127282 8.3 10.5 communication & services related to broadcasting 7.financial, insurance, real estate 1264877 1367684 1450490 8.1 6.1 & professional services 8.Public administration, defence 628423 685546 737886 9.1 7.6 & other services GVA at Basic Price 5133993 5501967 5821683 7.2 5.8