{"id":32,"date":"2019-07-17T07:39:47","date_gmt":"2019-07-17T07:39:47","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=32"},"modified":"2023-01-16T06:30:07","modified_gmt":"2023-01-16T06:30:07","slug":"indian-economy-indicators","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/indian-non-life-insurance-industry-analysis\/macro-economic-insurance-indicators\/indian-economy-indicators\/","title":{"rendered":"1.1 &#8211; Indian Economy Indicators"},"content":{"rendered":"\n<div style=\"background-color: white;font-size: 11px\">\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Table 1.1.1<\/span>Indian Economy Indicators (10 Year Trend)<\/h3><span style=\"text-align: center;font-size: large;font-weight: bold;\">New Series - (Base year: 2011-12)<\/span><table width=\"100%\" class=\"\">    <tbody>        <tr>                    <td>                        Indicators                    <\/td>                    <td>                        2012-13                    <\/td>                    <td>                        2013-14                    <\/td>                    <td>                        2014-15                    <\/td>                    <td>                        2015-16                    <\/td>                    <td>                        2016-17                    <\/td>                    <td>                        2017-18                    <\/td>                    <td>                        2018-19                    <\/td>                    <td>                        2019-20                    <\/td>                    <td>                        2020-21                    <\/td>                    <td>                        2021-22                    <\/td>        <\/tr>        <tr>                    <td>                            GDP at Current Prices                    <\/td>                    <td>                            9,944,013.00                    <\/td>                    <td>                            11,233,522.00                    <\/td>                    <td>                            12,467,959.00                    <\/td>                    <td>                            13,771,874.00                    <\/td>                    <td>                            15,362,386.00                    <\/td>                    <td>                            17,095,005.00                    <\/td>                    <td>                            18,971,237.00                    <\/td>                    <td>                            20,339,849.00                    <\/td>                    <td>                            19,745,670.00                    <\/td>                    <td>                            23,664,637.00                    <\/td>        <\/tr>        <tr>                    <td>                            GDP at Constant Prices                    <\/td>                    <td>                            9,213,017.00                    <\/td>                    <td>                            9,801,370.00                    <\/td>                    <td>                            10,527,674.00                    <\/td>                    <td>                            11,369,493.00                    <\/td>                    <td>                            12,298,327.00                    <\/td>                    <td>                            13,179,857.00                    <\/td>                    <td>                            13,981,426.00                    <\/td>                    <td>                            14,565,951.00                    <\/td>                    <td>                            13,512,740.00                    <\/td>                    <td>                            14,735,515.00                    <\/td>        <\/tr>        <tr>                    <td>                            GDP Growth Rate (%) - at Current Prices                    <\/td>                    <td>                            13.82                    <\/td>                    <td>                            12.97                    <\/td>                    <td>                            10.99                    <\/td>                    <td>                            10.46                    <\/td>                    <td>                            11.55                    <\/td>                    <td>                            11.28                    <\/td>                    <td>                            10.98                    <\/td>                    <td>                            6.99                    <\/td>                    <td>                            (2.92)                    <\/td>                    <td>                            19.85                    <\/td>        <\/tr>        <tr>                    <td>                            GDP Growth Rate (%) - at Constant Prices                    <\/td>                    <td>                            5.46                    <\/td>                    <td>                            6.39                    <\/td>                    <td>                            7.41                    <\/td>                    <td>                            8.00                    <\/td>                    <td>                            8.17                    <\/td>                    <td>                            7.17                    <\/td>                    <td>                            6.08                    <\/td>                    <td>                            3.47                    <\/td>                    <td>                            (7.23)                    <\/td>                    <td>                            9.05                    <\/td>        <\/tr>        <tr>                    <td>                            Overall Industrial Growth (%)                    <\/td>                    <td>                            3.30                    <\/td>                    <td>                            4.24                    <\/td>                    <td>                            8.07                    <\/td>                    <td>                            11.86                    <\/td>                    <td>                            8.33                    <\/td>                    <td>                            6.06                    <\/td>                    <td>                            5.26                    <\/td>                    <td>                            (0.11)                    <\/td>                    <td>                            (9.18)                    <\/td>                    <td>                            14.86                    <\/td>        <\/tr>        <tr>                    <td>                            Services Growth (%)                    <\/td>                    <td>                            14.90                    <\/td>                    <td>                            6.89                    <\/td>                    <td>                            8.99                    <\/td>                    <td>                            8.62                    <\/td>                    <td>                            8.12                    <\/td>                    <td>                            7.75                    <\/td>                    <td>                            6.43                    <\/td>                    <td>                            3.78                    <\/td>                    <td>                            (7.95)                    <\/td>                    <td>                            8.82                    <\/td>        <\/tr>        <tr>                    <td>                            Exports Growth (%)                    <\/td>                    <td>                            13.80                    <\/td>                    <td>                            7.79                    <\/td>                    <td>                            1.78                    <\/td>                    <td>                            (5.65)                    <\/td>                    <td>                            5.01                    <\/td>                    <td>                            4.69                    <\/td>                    <td>                            12.09                    <\/td>                    <td>                            (0.60)                    <\/td>                    <td>                            (4.38)                    <\/td>                    <td>                            17.83                    <\/td>        <\/tr>        <tr>                    <td>                            Imports  Growth (%)                    <\/td>                    <td>                            14.47                    <\/td>                    <td>                            (8.15)                    <\/td>                    <td>                            0.87                    <\/td>                    <td>                            (5.85)                    <\/td>                    <td>                            4.38                    <\/td>                    <td>                            17.62                    <\/td>                    <td>                            8.41                    <\/td>                    <td>                            (3.80)                    <\/td>                    <td>                            (8.01)                    <\/td>                    <td>                            35.33                    <\/td>        <\/tr>        <tr>                    <td>                            Bank Credit Growth (%)                    <\/td>                    <td>                            14.10                    <\/td>                    <td>                            13.90                    <\/td>                    <td>                            9.00                    <\/td>                    <td>                            10.90                    <\/td>                    <td>                            8.20                    <\/td>                    <td>                            10.00                    <\/td>                    <td>                            13.30                    <\/td>                    <td>                            6.10                    <\/td>                    <td>                            5.60                    <\/td>                    <td>                            9.60                    <\/td>        <\/tr>        <tr>                    <td>                            Bank Deposit Growth (%)                    <\/td>                    <td>                            14.20                    <\/td>                    <td>                            14.10                    <\/td>                    <td>                            10.70                    <\/td>                    <td>                            9.30                    <\/td>                    <td>                            15.30                    <\/td>                    <td>                            6.20                    <\/td>                    <td>                            9.60                    <\/td>                    <td>                            8.10                    <\/td>                    <td>                            10.90                    <\/td>                    <td>                            8.10                    <\/td>        <\/tr>        <tr>                    <td>                            Gross Domestic Savings (% GDP)                    <\/td>                    <td>                            33.90                    <\/td>                    <td>                            32.10                    <\/td>                    <td>                            32.24                    <\/td>                    <td>                            31.09                    <\/td>                    <td>                            30.26                    <\/td>                    <td>                            30.51                    <\/td>                    <td>                            30.11                    <\/td>                    <td>                            31.38                    <\/td>                    <td>                            28.24                    <\/td>                    <td>                            NA                    <\/td>        <\/tr>        <tr>                    <td>                            Inflation (WPI- Average) (%)                    <\/td>                    <td>                            6.90                    <\/td>                    <td>                            5.20                    <\/td>                    <td>                            1.30                    <\/td>                    <td>                            (3.7)                    <\/td>                    <td>                            1.70                    <\/td>                    <td>                            2.90                    <\/td>                    <td>                            4.30                    <\/td>                    <td>                            1.70                    <\/td>                    <td>                            1.30                    <\/td>                    <td>                            13.00                    <\/td>        <\/tr>        <tr>                    <td>                            Average Exchange Rate (Rs\/USD)                    <\/td>                    <td>                            54.00                    <\/td>                    <td>                            60.40                    <\/td>                    <td>                            62.40                    <\/td>                    <td>                            66.32                    <\/td>                    <td>                            64.84                    <\/td>                    <td>                            65.13                    <\/td>                    <td>                            69.47                    <\/td>                    <td>                            74.35                    <\/td>                    <td>                            72.79                    <\/td>                    <td>                            76.24                    <\/td>        <\/tr>        <tr>                    <td>                            Non Life Insurance GDPI in India (Rs in Crores)                    <\/td>                    <td>                            69,186.00                    <\/td>                    <td>                            77,525.00                    <\/td>                    <td>                            84,685.00                    <\/td>                    <td>                            96,379.00                    <\/td>                    <td>                            128,128.00                    <\/td>                    <td>                            150,662.00                    <\/td>                    <td>                            169,448.00                    <\/td>                    <td>                            188,916.00                    <\/td>                    <td>                            198,715.00                    <\/td>                    <td>                            220,700.00                    <\/td>        <\/tr>        <tr>                    <td>                            GDPI Growth (%)                    <\/td>                    <td>                            19.10                    <\/td>                    <td>                            12.05                    <\/td>                    <td>                            9.20                    <\/td>                    <td>                            13.80                    <\/td>                    <td>                            32.94                    <\/td>                    <td>                            17.60                    <\/td>                    <td>                            12.47                    <\/td>                    <td>                            11.50                    <\/td>                    <td>                            5.20                    <\/td>                    <td>                            11.10                    <\/td>        <\/tr>    <\/tbody><\/table>\n<\/div>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em><strong>Source<\/strong>: RBI Handbook 2021-22<br><strong>Note<\/strong>: GDP &#8211; Gross Domestic Product<br>GDPI &#8211; Gross Direct Premium in India<\/em><br>Figures were recalibrated in the year 2018-19 <br><em>Figures provided by The RBI are updated with a lag of 12 months<\/em> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-style-default\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>After seeing a decrease in the previous year, GDP growth rate, Non-life insurance industry growth rate is increased again this year to 19.85% and 11.10% respectively.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 1.1.1<\/span>Non-Life Insurance Premium v\/s GDP Growth<\/h3><div id=\"Chart_8\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_8\", {\"unit\":\"\",\"data\":{\"GDP Growth Rate (%) at Current Prices\":{\"2012-13\":\"13.82\",\"2013-14\":\"12.97\",\"2014-15\":\"10.99\",\"2015-16\":\"10.46\",\"2016-17\":\"11.55\",\"2017-18\":\"11.28\",\"2018-19\":\"10.98\",\"2019-20\":\"6.99\",\"2020-21\":\"-1.92\",\"2021-22\":\"19.85\"},\"Inflation (WPI- Average) (%)\":{\"2012-13\":\"6.9\",\"2013-14\":\"5.2\",\"2014-15\":\"1.3\",\"2015-16\":\"-2.7\",\"2016-17\":\"1.7\",\"2017-18\":\"2.9\",\"2018-19\":\"4.3\",\"2019-20\":\"1.7\",\"2020-21\":\"1.3\",\"2021-22\":\"13\"},\"Growth in Non-Life Insurance (%)\":{\"2012-13\":\"19.1\",\"2013-14\":\"12.05\",\"2014-15\":\"9.2\",\"2015-16\":\"13.8\",\"2016-17\":\"32.94\",\"2017-18\":\"17.6\",\"2018-19\":\"12.47\",\"2019-20\":\"11.5\",\"2020-21\":\"5.2\",\"2021-22\":\"11.1\"}},\"Title\":\"Non-Life Insurance Premium v\\\/s GDP Growth\",\"xTitle\":\"Year\",\"yTitle\":\"Growth Rates, Inflation (%)\",\"yAxisData\":{\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\",\"2021-22\":\"2021-22\"},\"colorCodes\":[\"#e84c22\",\" #ffbd47\",\"#B64926\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><strong><em>Source<\/em><\/strong><em>: RBI Handbook <br><\/em><strong><em>Council Compilation<\/em><\/strong><em>: Growth in Non-Life Insurance(%)<\/em><\/p>\n\n\n\n<figure class=\"wp-block-pullquote is-style-solid-color\"><blockquote><p><\/p><\/blockquote><\/figure>\n\n\n\n<p>Non-Life Insurance Industry growth during the period 2012-13 to 2021-22 has continued to outperform the industrial and services growth rates.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 1.1.2<\/span>Non-Life Insurance Premium v\/s Overall Industrial & Services Growth<\/h3><div id=\"Chart_9\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_9\", {\"unit\":\"\",\"data\":{\"Overall Industrial Growth (%)\":{\"2012-13\":\"3.3\",\"2013-14\":\"4.24\",\"2014-15\":\"8.07\",\"2015-16\":\"11.86\",\"2016-17\":\"8.33\",\"2017-18\":\"6.06\",\"2018-19\":\"5.26\",\"2019-20\":\"-0.11\",\"2020-21\":\"-8.18\",\"2021-22\":\"14.86\"},\"Services growth (%)\":{\"2012-13\":\"14.9\",\"2013-14\":\"6.89\",\"2014-15\":\"9\",\"2015-16\":\"8.62\",\"2016-17\":\"8.12\",\"2017-18\":\"7.75\",\"2018-19\":\"6.43\",\"2019-20\":\"3.78\",\"2020-21\":\"-6.95\",\"2021-22\":\"8.82\"},\"Growth in Non-Life Insurance (%)\":{\"2012-13\":\"19.1\",\"2013-14\":\"12.05\",\"2014-15\":\"9.2\",\"2015-16\":\"13.8\",\"2016-17\":\"32.94\",\"2017-18\":\"17.6\",\"2018-19\":\"12.47\",\"2019-20\":\"11.5\",\"2020-21\":\"5.2\",\"2021-22\":\"11.1\"}},\"Title\":\"Non-Life Insurance Premium v\\\/s Overall Industrial & Services Growth\",\"xTitle\":\"Year\",\"yTitle\":\"Growth Rates(%)\",\"yAxisData\":{\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\",\"2021-22\":\"2021-22\"},\"colorCodes\":[\"#e84c22\",\" #ffbd47\",\"#B64926\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><strong><em>Source<\/em><\/strong><em>: RBI: Overall Industrial Growth (%)<br><\/em><strong><em>Council Compilation<\/em><\/strong><em>: Growth in Non-Life Insurance (%)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: RBI Handbook 2021-22Note: GDP &#8211; Gross Domestic ProductGDPI &#8211; Gross Direct Premium in IndiaFigures were recalibrated in the year [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":30,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/32"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/comments?post=32"}],"version-history":[{"count":52,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/32\/revisions"}],"predecessor-version":[{"id":3466,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/32\/revisions\/3466"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/30"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/media?parent=32"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}