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PFCE Components Constant Prices
In the section on PFCE at Current Proices, we discussed that PFCE obtained by commodity flow approach is measured at market prices
Methodology for estimating PFCE at Constant Prices is as below:
- In the case of all the food items for which the output estimates are available in quantity terms, the estimates of private final consumption for each of the years is valuated at the prices in the base year in order to obtain estimates at constant prices
- In the case of items like other cereals, other meat products, milk and milk products, other oilseeds, other fruits and vegetables, fruits and vegetable products, sugar confectionery, other food, beverages, cigarettes and tobacco products, where production is in terms of value, the current price estimates are deflated with the wholesale price indices
- For all items under manufacturing group where production figures are in value terms only, deflation by appropriate price index of wholesale prices is resorted to for getting the corresponding estimates at constant prices
- In the case of services items, the implicit deflator as used while preparing the estimates of gross value added at current and constant prices is used for deflating the current PFCE estimates to obtain the corresponding constant price estimates
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Table below captures trend in PFCE at Constant Prices
For 2023-24, PFCE at Constant prices was Rs 99.1 lakh crore (same as Rs. trillion), compared to Rs. 181.3 trillion at Current Prices
Since the Base Year for presenting data at Constant Prices is 2011-12, PFCE at Constant Prices is same as PFCE at Current Prices for 2011-12, being Rs 49.1 trillion
| Year | Food and non-alcoholic beverages | Alcoholic beverages tobacco and narcotics | Clothing and footwear | Housing water electricity gas and other fuels | Furnishings household equipment and maintenance | Health | Transport | Communication | Recreation and culture | Education | Restaurants and hotels | Miscellaneous goods and services | Sub Total PFCE in domestic market | FCE of resident households in ROW | Less FCE of NR households in economic territory | PFCE Current Rs Trillion |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023-24 | 26.1 | 1.8 | 4.5 | 12.8 | 3.5 | 5.2 | 18.7 | 2.8 | 0.8 | 4.3 | 2.7 | 15.8 | 99.1 | 1.8 | -1.9 | 99.1 |
| 2022-23 | 26.0 | 1.6 | 4.9 | 12.3 | 3.5 | 4.4 | 17.1 | 2.7 | 0.9 | 3.9 | 2.2 | 14.4 | 93.8 | 1.5 | -1.5 | 93.8 |
| 2021-22 | 24.8 | 1.5 | 4.9 | 11.8 | 3.1 | 4.1 | 15.3 | 2.3 | 0.8 | 3.5 | 1.3 | 13.5 | 87.0 | 0.9 | -0.5 | 87.3 |
| 2020-21 | 23.2 | 1.6 | 3.8 | 11.2 | 2.5 | 3.7 | 12.3 | 2.1 | 0.6 | 3.2 | 1.0 | 12.8 | 78.1 | 0.7 | -0.5 | 78.2 |
| 2019-20 | 22.5 | 1.7 | 4.5 | 11.1 | 2.8 | 3.7 | 15.1 | 2.2 | 0.7 | 3.4 | 2.0 | 13.3 | 83.1 | 1.3 | -1.8 | 82.6 |
| 2018-19 | 21.4 | 1.6 | 4.5 | 10.8 | 2.7 | 3.5 | 14.1 | 2.2 | 0.7 | 3.2 | 1.9 | 12.5 | 78.9 | 1.3 | -1.7 | 78.5 |
| 2017-18 | 20.3 | 1.4 | 4.3 | 10.4 | 2.4 | 3.2 | 12.9 | 2.0 | 0.7 | 2.9 | 1.7 | 11.7 | 73.8 | 1.1 | -1.6 | 73.3 |
| 2016-17 | 19.6 | 1.4 | 4.2 | 10.1 | 2.3 | 3.1 | 10.7 | 1.6 | 0.6 | 2.6 | 1.6 | 11.6 | 69.4 | 1.0 | -1.4 | 69.0 |
| 2015-16 | 17.6 | 1.4 | 4.2 | 9.8 | 2.2 | 2.7 | 9.7 | 1.6 | 0.6 | 2.4 | 1.4 | 10.6 | 64.2 | 0.9 | -1.3 | 63.8 |
| 2014-15 | 17.3 | 1.4 | 3.9 | 9.5 | 2.0 | 2.5 | 8.6 | 1.5 | 0.6 | 2.2 | 1.3 | 8.7 | 59.4 | 0.8 | -1.1 | 59.1 |
| 2013-14 | 17.1 | 1.3 | 3.8 | 9.1 | 1.9 | 2.2 | 8.0 | 1.3 | 0.5 | 2.0 | 1.2 | 7.7 | 55.9 | 0.6 | -1.0 | 55.6 |
| 2012-13 | 15.9 | 1.3 | 3.2 | 8.5 | 1.7 | 2.0 | 7.8 | 1.2 | 0.5 | 1.9 | 1.2 | 7.0 | 52.1 | 0.6 | -0.9 | 51.8 |
| 2011-12 | 15.0 | 1.4 | 3.1 | 8.1 | 1.6 | 1.8 | 7.4 | 1.1 | 0.5 | 1.8 | 1.2 | 6.3 | 49.4 | 0.7 | -0.9 | 49.1 |
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