BANKING AFFAIRS

Detailed explanation-1: -Real GDP increased 1.6 percent in 2016 (that is, from the 2015 annual level to the 2016 annual level), compared with an increase of 2.6 percent in 2015 (table 1). Revisions to 2016 real GDP from the advance estimate did not affect the 1.6 percent rate of increase.

Detailed explanation-2: -The price index for gross domestic purchases increased 0.3 percent in 2015, compared with an increase of 1.5 percent in 2014. Current-dollar GDP increased 3.4 percent, or $589.8 billion, in 2015 to a level of $17, 937.8 billion, compared with an increase of 4.1 percent, or $684.9 billion, in 2014.

Detailed explanation-3: -While the industrial sector is now estimated to have grown at 8.2% against the earlier estimation of 7.4%, the services sector is estimated to have grown at 9.9% against 8.9% earlier. The farm sector growth rate was, however, cut to 0.76% from 1.2% estimated earlier.

Detailed explanation-4: -Per Capita Net National Income The per capita income at current prices during 2015-16 is estimated to have attained a level of ‘93, 293 as compared to the First Revised Estimate for the year 2014-15 of ‘86, 879 showing a rise of 7.4 percent.