NPCIL

  

 

About NPCIL Nuclear Power Corporation of India Limited (NPCIL), a Public Sector Enterprise under the administrative control of the Department of Atomic Energy (DAE), Government of India, is engaged in nuclear power generation. With its strong capabilities in design, construction, commissioning and operation, NPCIL builds and operates nuclear power plants in India. It presently operates 21 nuclear power reactors , with an total installed capacity of 5780 MW, located at seven different sites across the country. Its reactors fleet comprises two Boiling Water Reactors (BWRs), 18 Pressurised Heavy Water Reactors (PHWRs) and a Pressurised Water Reactor (PWR). Besides, NPCIL is constructing five more reactors with a total capacity of 3800 MW.

 

A Passionate Programme: In Admiration of Nature

The areas around the Indian nuclear power plants shelter a plethora of wildlife. As a responsible corporate citizen NPCIL took decisive steps for the stewardship of this serene nature.

 

In 2006, it set off a special initiative called Environment Stewardship Programme or ESP with its nature-loving employees as members. Nature clubs were established and programmes like bird monitoring and habitat management were kicked off. The members have been helping conserve the ecosystem. During work time, they are busy generating electricity inside the nuclear power plant, while many of their dawns and evenings are spent observing the behaviour of wildlife and habitats around their workplace.

 

ESP follows a three-fold approach to make things happen professionally: One, association with premier nature conservation institutions for technical know-how; two, imparting training to its members to keep them up to date on nature watch and conservation; and three, sensitising the members of public to the importance of environment.

 

 

The Exclusion Zones: Where Nature Abounds

 

The Indian nuclear power plant sites are the places where modern science share space with the pristine nature. At each of these seven sites, there are two major parts which are separated by thin walls. Inside the boundary stands majestically the nuclear power plant, where atoms are split for electricity, and in its widespread fringe nature abounds.

 

There are rationales behind how these two phenomena go in concert. Only a fraction of this about-a-mile-radius area, called exclusion zone, is used for roads and plant buildings while the rest remains undisturbed. Secondly, it also has ample water resources, features a range of habitats, and holds a bounteous plant life. Thirdly, there is almost no human influence on the environment here, as no one dwells in this Central Industrial Security Force guarded place.

 

Above all, nuclear power generation maintains a perfect harmony with the nature. It never emits any harmful gases or particulates that affect the environment.  With no pollution around, the flora thrives generously and wilderness is preserved.

 

Refuge, food, water, and clear air: these features draw a great deal of wildlife like birds, butterflies, reptiles and mammals to the sites of Indian nuclear power plants. So no wonder many of them have made the EZ their homes. According to the studies conducted in collaboration with premier nature conservation institutions, the exclusion zones of Indian nuclear power plants are home to hundreds of plants, over 200 varieties of birds, about 70 species of butterflies, several mammals and reptiles, and a wide range of aquatic species

 

NPCIL's ESP helps to preserve these precious ecosystems. The members of ESP at each NPCIL site help preserve the nature around their respective region. They conduct seasonal surveys on birds and butterflies, monitor the migratory birds, prevent wetlands from drying up, establish pesticide-free gardens for butterflies, mange habitats, and create awareness among the public about the importance of wildlife

Environment and sustainable development - PIB

The protection of environment is needed for sustainable development. The Industrial pollution, degradation of forests, depletion of ozone layer, the green house gases results in global warming and climate which will have an adverse impact on environment and human health. There is a need for conservation of Biodiversity, protection of wetlands and prevention of environmental pollution, promotion of ecological balance enables sustainable development. There are several provisions provided in Indian Constitution for Protection of environment. There are certain legislations enacted viz. Environment Protection Act, Wildlife Preservation Act, Biodiversity Conservation Act, water and Air pollution prevention Acts etc The Judiciary playing a vital role in protection of Environment.  Through Judicial Activism the Supreme Court can issue directions under writ Jurisdiction under Article 32 of Indian Constitution. The United Nation Organisation passed several UN conventions like Ramsar Convention on protection of wetlands, and UN convention on Biodiversity etc. World Environment Day is being celebrated across the world on 5^th June every year.

Global Warming and Climate change

Global warming is the term used to describe a gradual increase in the average temperature of the Earth’s atmosphere and its oceans, a change that is believed to be permanently changing the Earth’s climate. Even though it is an ongoing debate, it is proved by the scientists that the planet is warming. Global warming is for real The average global temperatures are higher than they have ever been during the past millennium, and the levels of CO in the atmosphere have e crossed all previous records. The climate is changing. The earth is warming up, and there is now overwhelming scientific consensus that it is happening, and human-induced. With global warming on the increase and species and their habitats on the decrease, chances for ecosystems to adapt naturally are diminishing. Many are agreed that climate change may be one of the greatest threats facing the planet. Recent years show increasing temperatures in various regions, and  increasing extremities in weather patterns. Climate Change resulting from increased green house gases concentrations has the potential to harm societies and eco-systems. In particular, agriculture, forestry, water resources, human health, costal settlements and natural eco-systems will need to adapt to a changing climate or face diminishing functions. The changing climate patterns, and especially increased frequency and severity of extreme events, will increase vulnerability to the natural disasters, both slower on set ones such as drought and rapid onset disaster such as flood and cyclones.

Forest Conservation

The role of forests in the national economy and in ecology was emphasized in the 1988 National Forest Policy, which focused on ensuring environmental stability, restoring the ecological balance, and preserving the remaining forests. Other objectives of the policy were meeting the need for fuelwood, fodder, and small timber for rural and tribal people while recognizing the need to actively involve local people in the management of forest resources. Also in 1988, the Forest Conservation Act of 1980 was amended to facilitate stricter conservation measures. The 2009 Indian national forest policy document emphasizes the need to combine India's effort at forest conservation with sustainable forest management. India defines forest management as one where the economic needs of local communities are not ignored; rather forests are sustained while meeting nation's economic needs and local issues through scientific forestry.

Protection of Wetlands

Wetlands are complex ecosystems and encompass a wide range of inland, coastal and marine habitats. They share the characteristics of both wet and dry environments and show immense diversity based on their genesis, geographical location, hydrological regimes and substrate factors. They include flood plains, swamps, marshes, fishponds, tidal marshes natural and man-made wetlands. Among the most productive life support, wetlands have immense socio-economic and ecological importance for mankind. They are crucial to the survival of natural biodiversity. They provide suitable habitats for endangered and rare species of birds and animals, endemic plants, insects besides sustaining migratory birds. India has a wealth of wetland ecosystems distributed in different geographical regions. India is also a signatory to the Ramsar Convention on Wetlands and the Convention of Biological Diversity; Apart from government regulation, development of better monitoring methods is needed to increase the knowledge of the physical and biological characteristics of each wetland resource, and to gain, from this knowledge, a better understanding of wetland dynamics and their controlling processes. India being one of the mega diverse nations of the world should strive to conserve the ecological character of these ecosystems along with the biodiversity of the flora and fauna associated with these ecosystems. The Convention on Wetlands, signed in Ramsar, Iran, in 1971, is an intergovernmental treaty which provides the framework for national action and international cooperation for the conservation and wise use of wetlands and their resources. There are presently 158 Contracting Parties to the Convention, with 1758 wetland sites, totaling 161 million hectares, designated for inclusion in the Ramsar List of Wetlands of International Importance. Ramsar Convention is the only global environment treaty dealing with a particular ecosystem. The Ramsar Convention on Wetlands was developed as a means to call international attention to the rate at which wetland habitats were disappearing, due to lack of understanding of their important functions, values, goods and services. Governments which have joined the Convention are expressing their willingness to make a commitment for helping to reverse that history of wetland loss and degradation. In addition, many wetlands are international systems lying across the boundaries of two or more countries, or are part of river basins that include more than one country.

Conservation of Biodiversity

Conservation of Biodiversity is the need of the hour. The Biological Diversity Act, 2002 is a federal legislation enacted by the Parliament of India for preservation of biological diversity in India, and provides mechanism for equitable sharing of benefits arising out of use of traditional biological resources and knowledge. The Act was enacted to meet the obligations under Convention on Biological Diversity (CBD), to which India is a party. The National Biodiversity Authority (NBA) was established in 2003 to implement India’s Biological Diversity Act 2002. The NBA is a Statutory, Autonomous Body and it performs facilitative, regulatory and advisory function for the Government of India on issues of conservation, sustainable use of biological resources and fair and equitable sharing of benefits arising out of the use of biological resources.

Wildlife Conservation

Wildlife conservation is the practice of protecting endangered plant and animal species and their habitats. Among the goals of wildlife conservation are to ensure that nature will be around for future generations to enjoy and to recognize the importance of wildlife and wilderness lands to humans.  Many nations have government agencies dedicated to wildlife conservation, which help to implement policies designed to protect wildlife. Numerous independent nonprofit organizations also promote various wildlife conservation causes. Wildlife conservation has become an increasingly important practice due to the negative effects of human activity on wildlife. Wildlife Conservation Act 2002 was enacted to protect wildlife in India. The main objective of Project Tiger is to ensure a viable population of tiger in India for scientific, economic, aesthetic, cultural and ecological values and to preserve for all time, areas of biological importance as a natural heritage for the benefit, education and enjoyment of the people. Project Elephant (PE), a centrally sponsored scheme, was launched in February 1992 to provide financial and technical support to major elephant bearing States in the country for protection of elephants, their habitats and corridors.

Ozone Depletion

Ozone depletion describes two distinct but related phenomena observed since the late 1970s: a steady decline of about 4% per decade in the total volume of ozone in Earth's stratosphere (the ozone layer), and a much larger springtime decrease in stratospheric ozone over Earth's polar regions. The latter phenomenon is referred to as the ozone hole. In addition to these well-known stratospheric phenomena, there are also springtime polar tropospheric ozone depletion events. The details of polar ozone hole formation differ from that of mid-latitude thinning, but the most important process in both is catalytic destruction of ozone by atomic halogens. The main source of these halogen atoms in the stratosphere is photo dissociation of man-made halocarbon refrigerants (CFCs, freons, halons). These compounds are transported into the stratosphere after being emitted at the surface. Both types of ozone depletion were observed to increase as emissions of halo-carbons increased. CFCs and other contributory substances are referred to as ozone-depleting substances (ODS). This is used to protect the ozone layer which protect humans from ultra-violet rays of Sun.

Environmental Impact Assessment

An environmental impact assessment (EIA) is an assessment of the possible impacts that a proposed project may have on the environment, consisting of the environmental, social and economic aspects. The purpose of the assessment is to ensure that decision makers consider the environmental impacts when deciding whether or not to proceed with a project. The International Association for Impact Assessment (IAIA) defines an environmental impact assessment as "the process of identifying, predicting, evaluating and mitigating the biophysical, social, and other relevant effects of development proposals prior to major decisions being taken and commitments made." EIAs are unique in that they do not require adherence to a predetermined environmental outcome, but rather they require decision ­makers to account for environmental values in their decisions and to justify those decisions in light of detailed environmental studies and public comments on the potential environmental impacts.

Environment and Indian Constitution

The Indian Constitution guarantees justice, liberty and equality to all citizens of the country. In Maneka Gandhi's case the court gave a new dimension to Article 21. It held that the right to 'live' is not merely confined to physical existence but it include within its ambit the right to live with human dignity. The same view was reflected by Court in Francis Coralie V. Union Territory of Delhi said that the right to live is not restricted to mere animal existence. Article 21 also constitute right to get pollution free water and air. Article 48 of Directive Principles of State Policy directs that the State to take steps to organize agriculture and animal husbandary on modern and scientific lines. Again Article 48-A requires the State to take steps to protect and improve the environment and to safeguard the forests and wildlife of the country. In M.C. Mehta (II) V. Union of India, the Supreme Court, relying on Article 48-A gave direction to Central and State Governments and various local bodies and Boards under the various statutes to take appropriate steps for the prevention and control of pollution of water. Article 51-A says that it shall be the duty of every citizen of India to protect and impove the natural environment including forests, lakes, rivers and wildlife, and to have compassion for living.

Role of Judiciary in Environmental Protection

One of the most innovative parts of the Constitution is that right to enforce the fundamental rights by moving Supreme Court is itself a fundamental right under article 32 of the Constitution. Writ juridisdiction is conferred on Supreme Court under Article 32 and High Courts under Article 226 of the Constitution. Under these provisions Supreme Court and High Courts have the power to issue any drections or orders writ, including writs in the nature of habeas corpus, mandamus, prohibition, quo-warranto and certiorari, whichever is appropriate High Court is wider in scope than that of Supreme Court. However, it may be pointed out that the law declared by the Supreme Court shall be binding on all Courts within the territory of India. Moreover, the Supreme Court in exercise of its jurisdiction may pass such decree or make such order as is necessary for doing complete justice in any cause or matter pending before it. The Supreme Court and also various High Courts have taken innumerable measures in a series of their landmark judgements. Over the years the apex Court has been paying special attention for the protection of environment by giving effective directions to all the persons concerned with the matter by invoking its powers under the Article 32. An analysis of the various decisions of the Supreme Court reveals that the Apex Court has exercised its writ jurisdiction when there was leakage of hazardous gases like Chlorine from the Shri Ram Industries, throwing of waste material of alchohal plants into the adjoining nala resulting in spreading of obnoxious cells being released apart from mosquito breeding, discharge of highly toxic affluent by the tanneries, safety and insurance for the benefit of workers at the cost of employer, to entertain public grievances relating to environment in the nature of public inters litigation for banning of harmful drugs, pollution of holy Ganga by municipal sewage and industrial affulents, illegal mining of effecting ecology, pollution of waters in river polar in Tamil Nadu due to discharge of untreated affulents, assuring sustainable development detrimental to the forest growth, damage to the Taj Mahal, one of the seven wonders of the world, protecting the people from suffering of respiratory and other diseases reminding the enforecment agencies to do the job. The Environment pollution is not confined only to any particular country or particular region. It is widening and crossing over the state and political boundaries affecting land, water, air, space, perversely. Realising the degraded consequences of the environmental pollution and its future impact on living being the battle legal, political and scientific, has started in all forums of international, regional and national organizations.

The National Green Tribunal was established on 18.10.2010 under the National Green Tribunal Act 2010 for effective and expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources including enforcement of any legal right relating to environment and giving relief and compensation for damages to persons and property and for matters connected therewith or incidental thereto. It is a specialized body equipped with the necessary expertise to handle environmental disputes involving multi-disciplinary issues. The Tribunal shall not be bound by the procedure laid down under the Code of Civil Procedure, 1908, but shall be guided by principles of natural justice. New Delhi is the Principal Place of Sitting of the Tribunal and Bhopal, Pune, Kolkata and Chennai shall be the other four places of sitting of the Tribunal.

Legislations on Environment

Environmental quality has deteriorated during past two decades. This is because of the gap between the intent of the policy and the actual achievement. India's environmental problems are mainly due to its high population and limited natural resources. Protection of the environment poses a fundamental challenge to the nations desire to industrialize faster. Various efforts are being made to control India's environmental problems. The government has recognized the need for planned land and water resource management and the protection of environmental resources is included in the constitution since 1976. The constitution, 42^th amendment act of 1977 obligates the Government to protect and improve environment for the good of society as a whole. It also makes an environmental protection an obligation of the state and individual citizen and reads, "The state shall Endeavour to protect and improve the environmental and to safeguard forests and wildlife of the country." Article 51-A (9) states "It shall be duty of every citizen of India to protect and improve the natural environment including forests, lakes, rivers, wildlife and to have compassion for living creatures." A lot of Acts like Biodiversity Conservation Act, environment Protection Act, Wildlife Preservation Act, Water Pollution Prevention Act, Air Pollution Prevention Act etc. are enacted from time to time for environment preservation.

Sustainable Development

Economic development also refer as generally refers to the sustained, concerted actions of policy makers and communities that promote the standard of living and economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative changes in the economy. Such actions can involve multiple areas including development of human capital, critica infrastructure,  regional competitiveness, environmental,sustainability, social,inclusion, health, safety, literacy, and other initiatives. Economic development differs from economic growth. Economic development is a policy intervention endeavor with aims of economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP. Consequently, as economist Amartya Sen points out: “economic growth is one aspect of the process of economic development. We should handover Quality Air, land and environment to future generations.

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PROTECTION OF CHILDREN FROM SEXUAL OFFENCES (POCSO) ACT

On 14^th November, 2012, a new law was enacted, the Protection of Children from Sexual Offences (POCSO) Act, which brought in major changes in the law related to sexual violence, as far as children below 18 years are concerned.

The aims and objectives of this Act were:

·        To secure a child’s right to safety, security and protection from sexual abuse.

·        To protect children from inducement or coercion to sexual activity

·        To prevent exploitative use of children in prostitution and generation of pornographic material.

·        To provide a comprehensive legislation to safeguard the interest of a child at every stage - reporting, recording of evidence, investigation and trial of offences.

·        To provide for establishment of special courts for sensitive and speedy trial

 

It made the law gender neutral and brought within its purview sexual assault of both girls and boys below the age of 18 years. It also widened the definition of sexual violence beyond the conventional peno-vaginal penetration to include crimes which did not amount to rape under the IPC. It also prescribed stringent punishment and many procedural safety measures to protect the child during investigation and trial.

 

While recording the statement of the victim:

After the FIR is lodged, the police will record a detailed statement of the victim regarding the crime. The same shall be recorded in a simple language

The police shall not reveal the identity of the victim to the media or to the public.

A woman or a child shall not be detained in a police station overnight.

If the victim needs a translator the same shall be provided.

Within 24 hours of receiving information the victim shall be taken to the nearest hospital for medical examination and care

If the victim has any other special needs, the same shall be met.

 

If the victim is a child,

·        The statement shall be recorded at a place where the child resides or where the child feels comfortable.

·        The officer recording the statement shall not be below the rank of sub inspector and should preferably be a woman officer.

·        The police officer shall not be in uniform.

·        The child shall not come in contact in any way with the accused

·        A person who the child trusts shall be present

·        For mentally or physically (temporary or permanent) disabled child, a special educator / expert may be called

·        If possible, the statement of the child may be recorded using audio-video electronic

·        If required, the police shall take the child to the nearest shelter home for emergency shelter and produce the child before the Child Welfare Committee (CWC)

·        The Police shall report all cases of child sexual offences to the Child Welfare Committee and Special Court within 24 hours

 

Medical and Forensic Examination:

A person who the victim trusts shall be present at the time of medical examination

A female victim shall be examined only by a lady doctor

The police shall ensure the samples collected from the hospital are sent to the forensic laboratory at the earliest

The medical practitioner shall treat the child for cuts, bruises, bodily and genital injuries, exposure to STDs & HIV. S/he shall discuss possible pregnancy and emergency contraceptives with the child or the person who the child trusts. Rule 5 (4)

The victim may be referred for mental, psychological or other counselling.

Non treatment of a victim by a Hospital is an offence punishable with imprisonment for a term which may extend to one year or fine or both under S. 166B Cr. P C

The medical and forensic examination shall be conducted as per the Central guidelines or the guidelines issued by the respective state.  

 

Scheme for Financial Support and to provide support to overcome and physical and mental trauma caused by the incident:

Many states have introduced schemes for either compensation or financial support to the victim. There are different models for the same.

The Maharashtra state has introduced the Manodhairya Scheme for victims of rape and acid attacks, where the compensation has to be paid within a few weeks of lodging the FIR.

Legal assistance during the trial is also provided as per this scheme.

During the Trial

The POCSO Act provides for setting up of special child friendly courts to conduct the trial.

Many states have also set up special courts for all cases of sexual assault concerning women and children.

All trials concerning sexual assault will be conducted in camera.

The victim shall be allowed to have a support person inside the court during the examination and cross examination.

Questions regarding the past sexual history of the victim or child, or any other humiliating questions which cause the victim trauma shall not be asked during cross examination. 

If the child I below 7 years, there cannot be direct cross examination.  The lawyer would have to give the questions in writing to the judge and the judge shall explain the same to the child.

 

Conclusions:

If all the protective measures are stringently followed, the investigations and trial will not be a harrowing experience for the victim and this will in turn provide for maintaining the dignity of the victim, which in turn will improve conviction rates in the country.

 

*Ms. Audrey D’mello is Program Director, Majlis Legal Centre.

Majlis Legal Centre provides socio legal support to victims of domestic and sexual violence in Maharashtra. The Centre has collaboration with the Department of Women and Child Development, Government of Maharashtra for effective implementation of laws with regard to crimes against women.

 

New Series Estimates of National Income, Consumption Expenditure, Saving and Capital Formation (Base Year 2011-12)

New Series Estimates of National Income, Consumption Expenditure, Saving and Capital Formation (Base Year 2011-12)

The Ministry of Statistics & Programme Implementation has released the new series of national accounts, revising the base year from 2004-05 to 2011-12. The base year of national accounts was last revised in January 2010.

 

2.         Base year revisions differ from annual revisions in National Accounts primarily because of nature of changes. In annual revisions, changes are made only on the basis of updated data becoming available without making any changes in the conceptual framework or using any new data source, to ensure strict comparison over years. In case of base year revisions, apart from a shift in the reference year for measuring the real growth, conceptual changes, as recommended by the international guidelines, are incorporated.  Further, statistical changes like revisions in the methodology of compilation, adoption of latest classification systems, and, inclusion of new and recent data sources are also made.  Changes are also made in the presentation of estimates to improve ease of understanding for analysis and facilitate international comparability.

 

3.         Improvements as noted above, especially incorporation of new datasets, have resulted in a correction in the level of GDP, which is likely to affect a wide range of indicators where it is used as a reference point: for instance, trends in public expenditure, taxes and public sector debt that are conventionally analysed in terms of their ratios to nominal GDP. It may be noted that the level of revision in the present base revision is not large enough to affect any of these ratios significantly.

 

4.         Users are requested to note that Gross Domestic Product (GDP) at factor cost will no longer be discussed in the press releases. As is the practice internationally, industry-wise estimates will be presented as Gross Value Added (GVA) at basic prices, while ‘GDP at market prices’ will henceforth be referred to as GDP. Estimates of GVA at factor cost (earlier called GDP at factor cost) can be compiled by using the estimates of GVA at basic prices and production taxes less subsidies as given in Statement 3.1 of this note. For the years 2011-12, 2012-13 and 2013-14, GVA at factor cost have been compiled and are presented in Statements 10.1 & 10.2.

 

5.         A brief note on the conceptual and statistical changes made in the new series, and its effect on the key estimates are given in Annex. A short publication giving more details of the revision shall be made available in public domain by the last week of February 2015.

 

 

 

6.         The salient features of the key macro-economic aggregates are indicated in the following paragraphs.

 

Gross Domestic Product

7.         GDP for the base year 2011-12 is estimated as Rs. 88.3 lakh crore. Nominal GDP or GDP at current prices for the year 2012-13 is estimated as Rs. 99.9 lakh crore while that for the year 2013-14 is estimated as Rs. 113.5 lakh crore, exhibiting a growth of 13.1 percent and 13.6 percent during the years 2012-13 and 2013-14 respectively.

 

8.         Real GDP or GDP at constant (2011-12) prices stands at Rs.92.8 lakh crore and Rs.99.2 lakh crore, respectively for the years 2012-13 and 2013-14, showing growth of 5.1 percent during 2012-13, and 6.9 percent during 2013-14.

 

Industry-wise Analysis

9.         The percentage changes in the Gross Value Added (GVA) at basic prices in different sectors of the economy are presented in Statements 4.1 and 4.2. At the aggregate level, nominal GVA at basic prices increased by 13.2 percent during 2013-14, as against 12.9 percent during 2012-13 (Statement 1.1). In terms of real GVA, i.e., GVA at constant (2011-12) basic prices, there has been a growth of 6.6 percent in 2013-14, as against growth of 4.9 percent in 2012-13.

 

10.       The growth in GVA during 2013-14 has been higher than that in 2012-13 due to higher growth in ‘trade & repair services’ (14.3%), ‘communication and services related to broadcasting’ (13.4%), ‘other services’ (10.7%), ‘agriculture, forestry and fishing’ (3.7%), ‘construction’ (2.5%) and ‘public administration & defence’ (4.9%).

 

Net National Income

11.       Nominal Net National Income (NNI) for the year 2011-12 stands at Rs. 78.5 lakh crore, while the estimates for the years 2012-13 and 2013-14 are Rs. 88.4 lakh crore and Rs. 100.6 lakh crore, showing an increase of 12.7 percent and 13.7 percent during 2012-13 and 2013-14 rsepectively.

 

Gross National Disposable Income

12.       Gross National Disposable Income (GNDI) at current prices is estimated as Rs.90.6 lakh crore for the year 2011-12, while the estimates for the years 2012-13 and 2013-14 stand at 102.2 lakh crore and Rs.116.0 lakh crore, respectively.

 

 

Saving

13.       Gross Saving during 2011-12 is estimated as Rs.29.9 lakh crore, and the estimates for the years 2012-13 and 2013-14 are Rs. 31.8 lakh crore and Rs. 34.8 lakh crore respectively. Rate of Saving to GNDI for the years 2011-12, 2012-13 and 2013-14 is estimated as 33.0 percent, 31.1 percent and 30.0 percent respectively.

 

 

14.       The highest contributor to the Gross Saving is the household sector, with a share of 59.4 percent in the year 2013-14. However, the share has declined from 67.3 percent in 2011-12 and 63.4 percent in 2012-13. This decline can be attributed to the decline in household savings in physical assets, which has declined from Rs.13.4 lakh crore in 2011-12 to Rs. 12.1 lakh crore in 2013-14. On the other hand, the share of Non-Financial Corporations has increased from 29.3 percent in 2011-12 to 34.5 percent in 2013-14. The share of Financial Corporations has been around 9 percent in all these years, while the dis-saving of General Government has decreased from 5.4 percent in 2011-12 to 3.2 percent in 2013-14.

 

Capital Formation

15.       Gross Capital Formation (GCF) at current and constant prices is estimated by two approaches – (i) through flow of funds, derived as Gross Saving plus net capital inflow from abroad; and (ii) by the commodity flow approach, derived by the type of assets. The estimates of GCF through the flow of funds approach are treated as the firmer estimates, and the difference between the two approaches is taken as “errors and omissions”. However, GCF by industry of use and by institutional sectors does not include “valuables”, and therefore, these estimates are lower than the estimates available from commodity flow.

 

16.       Gross Capital Formation (GCF) at current prices is estimated as Rs. 33.7 lakh crore for the year 2011-12, while the estimates for both the years 2012-13 and 2013-14 stand at Rs. 36.6 lakh crore. Since GCF did not increase during 2013-14, the rate to GDP declined during the year to 32.3 percent as against 36.6 during 2012-13. The rate of GCF to GDP excluding valuables stands at 33.9 percent and 31 percent during 2012-13 and 2013-14 respectively. The rate of capital formation in the years 2011-12 to 2013-14 has been higher than the rate of saving because of net capital inflow from Rest of the World (ROW).

 

17.       In terms of the share to the total GCF (at current prices), the highest contributor is Non-Financial Corporations, with the share rising steadily from 46.6 percent in 2011-12 to 51.5 percent in 2013-14. Share of household sector in GCF is also significant, which has declined from 42 percent in 2011-12 to 34.2 percent in 2013-14. The share of General Government in GCF has increased from 10 percent in 2011-12 to 13.2 percent in 2013-14.

 

18.       The rate of Gross Capital Formation at constant (2011-12) prices has decreased from 37.2 in 2012-13 to 33.4 in 2013-14.

 

19.       Within the Gross Capital Formation at current prices, the Gross Fixed Capital Formation (GFCF) amounted to Rs. 33.7 lakh crore in 2013-14 as against Rs. 31.4 lakh crore and Rs. 29.7 lakh crore in 2012-13 and 2011-12 respectively.  The change in stocks of inventories, at current prices, decreased from Rs. 2.2 lakh crore in 2011-12 to Rs. 1.8 lakh crore in 2013-14, while the valuables decreased from Rs. 2.5 lakh crore in 2011-12  to Rs. 1.5 lakh crore in 2013-14.

 

Consumption Expenditure

20.       Private Final Consumption Expenditure (PFCE) at current prices is estimated at Rs. 50.9 lakh crore for the base year 2011-12, increasing to Rs. 58.8 lakh crore in 2012-13 and further to Rs. 67.7 lakh crore in 2013-14. In terms of GDP, the rates of PFCE at current prices during 2011-12, 2012-13 and 2013-14 are estimated at 57.6 percent, 58.8 percent and 59.7 percent respectively.

 

21.       At constant (2011-12) prices, the PFCE is estimated at Rs. 53.7 lakh crore and Rs. 57.0 lakh crore for the years 2012-13 and 2013-14 respectively. The corresponding rates of PFCE for the years 2012-13 and 2013-14 are 57.9 percent and 57.5 percent respectively.

 

22.       Government Final Consumption Expenditure (GFCE) is estimated at Rs. 9.9 lakh crore for the year 2011-12. The estimates of GFCE at current prices for the years 2012-13 and 2013-14 stand at Rs. 10.9 lakh crore and Rs. 12.8 lakh crore, respectively. At constant (2011-12) prices, the estimates of GFCE for the years 2012-13 and 2013-14 stand at Rs. 10.0 lakh crore and Rs. 10.9 lakh crore respectively.