(05 June 2023) Government Data Roundup: Reports by RBI, MoSPI, Data of GDP Estimates, Foodgrain Production Estimates Among Those Released Recently
Sai Krishna Muthyanolla
June 5, 2023
The 30th edition of the fortnightly government roundup covers reports released by RBI, MoSPI, Ministry of Finance, data on GDP estimates, foodgrain production estimates among others.
In this 30 edition of Factly’s fortnightly government data round-up, reports released in the last two weeks of the month of May have been covered. Reports published by the Reserve Bank of India (RBI), Ministry of Statistics and Programme Implementation (MoSPI), Ministry of Agriculture & Farmer’s Welfare, Ministry of Finance, and the Department of Science and Technology have been covered in the story.
India’s Climate Research Agenda: 2030 and beyond
About the report:
The report titled ‘India’s Climate Research Agenda: 2030 and Beyond’ provides a detailed review and future research direction on select themes like Monsoon, Climate Modelling, Aerosol- Climate Interactions, Hydrology & Cryosphere, Extreme Events, Oceanic Sciences, Urban Climate, Carbon Cycle, and sector-specific climate services, as identified by experts. It identifies various key research areas that need to be addressed to mitigate the effects of climate change and adapt to the changes.
Key Findings:
Some of the key findings from the latest versions of the reports covered in previous editions of the round-up are given below. The Quarterly Periodic Labour Force Survey and Payroll Reporting in India concerning the labour and employment sector are published by MoSPI. Another publication of MoSPI is the ‘Provisional Estimate of National Income 2022-23’ and ‘Quarterly Estimates of GDP for Fourth Quarter of 2022-23’ which estimates the growth of national income. Reports from the Finance Sector include the Annual Report of RBI and the bank’s monthly bulletin.
Periodic Labour Force Survey – Quarterly Bulletin (January to March 2023)
The survey, which underlines the importance of the availability of the labour force data at regular intervals of time measures the employment and unemployment indicators in intervals of three months in urban areas in current week status as well as usual status. The latest report revealed that India’s urban unemployment rate was 6.8% and had touched the lowest level ever since the publication began in 2018. The Labour Force Participation Ratio in urban areas for persons of age 15 years and above was 48.5%, up from 47.3% recorded during the same period in 2022. The Worker Population Ratio was also high with 45.2%.
Payroll Reporting in India: An Employment Perspective – March 2023
MoSPI’s monthly report covers the period from September 2017 up to March 2023. It provides information on the number of subscribers under three major schemes- the Employees’ Provident Fund (EPF) Scheme, the Employees’ State Insurance (ESI) Scheme and the National Pension Scheme (NPS) is published in these reports. As per the latest report, 6.43 crore gross new subscribers joined the EPF scheme since September 2017. Likewise, 8.16 crore gross new subscribers joined the ESI scheme and 42.46 lakh gross new subscribers joined and contributed to the NPS Central Government, State Governments and Corporate schemes during the same period.
RBI’s Monthly Bulletin
RBI’s Monthly Bulletin for the month of May 2023 stated that India’s growth in the first quarter of 2023-24 is likely to be driven primarily by private consumption, supported by reviving rural demand, and renewed buoyancy in manufacturing on easing of input cost pressures. Further, it added that the global economy is transfixed in the crosscurrents of slowing growth and high inflation, and an uneasy calm prevails in the global financial markets as they await clearer signals from policy authorities on banking regulation and supervision and contours of deposit insurance. Other articles in the report are Exploring India’s Export Potential through the Lens of Export Similarity Indices, India’s Steady State Equilibrium Inflation: A Revisit, India, and COP-26 Commitments: Challenges for the Mining Sector, and Basic and Digital Financial Literacy in the Last Mile: A Snapshot from Rural West Bengal.
RBI’s Annual Report for 2022-23
Some key highlights from the report are the following.
Provisional Estimate of National Income 2022-23 and Quarterly Estimates of GDP for Fourth Quarter of 2022-23
Released by MoSPI, these estimates provide data on India’s estimated GDP growth for 2022-23 and the last quarter, January to March of 2022-23. As per the publication, India’s Real GDP growth during 2022-23 is estimated at 7.2% as compared to 9.1% in 2021-22. India’s quarterly GDP growth for the fourth quarter of 2022-23 is estimated at 6.1%, up from 4% in the same quarter in 2021-22.
Third Advance Estimates of Production of major crops
Third Advance Estimates of production of major crops for the agricultural year 2022-23 was released by the Ministry of Agriculture and Farmers Welfare. Foodgrain production of 3305.34 Lakh Tonnes is estimated for the year 2022-23. This is 149.18 LMT more than the previous year 2021-22. The total production of Rice during 2022-23 is estimated at a record 1355.42 lakh metric tonnes (LMT), 60.71 lakh tonnes more than the previous year. Likewise, Wheat production is estimated at 1127.43 LMT which is 50.01LMT more compared to 2021-22. India’s production of Nutri / Coarse Cereals is estimated at 547.48 lakh tonnes, 36.47LMT more than that in the previous year.