Page 341 - economic_survey_2021-2022

Services 315

Table 1: Services Sector Performance
Share in GVA Growth (YoY) (per cent)
(per cent)
Sector 2021-22 2018-19 2019-20 2020-21 2021-22 2021-22
(AE) (2 RE) (1 RE) (PE) (AE)
nd
st
Q1 Q2 H1
Total Services 53 7.2 7.2 -8.4 8.2 11.4 10.2 10.8
(Excluding construction)
Trade, hotels, transport, 16.9 7.1 6.4 -18.2 11.9 34.3 8.2 18.4
communication & services
related to broadcasting
Financial, real estate & 20.9 7.2 7.3 -1.5 4.0 3.7 7.8 5.8
professional services
Public administration, 15.2 7.4 8.3 -4.6 10.7 5.8 17.4 12.0
defence & other services*
Source: Ministry of Statistics and Programme Implementation.
Note: Share in GVA is in current prices and growth in GVA is at constant 2011-12 prices;
*: Other services include Education, Health, Recreation, and other personal services
RE: Revised Estimates. PE: Provisional Estimates. AE: Advance Estimates

Table 2: Gross Value Added in Services sub-sectors
Relative To Pre-Pandemic Levels (Q3 2019-20 GVA= 100)

Sector 2020-21 2020-21 2020-21 2020-21 2021-22 2021-22
Q1 Q2 Q3 Q4 Q1 Q2
Trade, hotels, transport, 52 81 92 108 70 87
communication & services
related to broadcasting

Financial, real estate & 123 126 107 107 127 136
professional services
Public administration, defence 78 88 98 103 83 104
& other services

Total Services 84 99 99 106 94 109
Total GVA 78 92 101 106 92 100
Source: Ministry of Statistics and Programme Implementation.

9.4 As per the first advance estimates, Gross Value Added (GVA) of services sector is estimated
to grow by 8.2 per cent in 2021-22. Sub-sectors ‘Trade, hotels, transport, communication &
broadcasting services’, ‘Financial, real estate & professional services’, and ‘Public administration,
defence & other services’ are estimated to expand by 11.9 per cent, 4 per cent and 10.7 per cent
respectively in 2021-22. A part of this growth is attributable to the low base in 2020-21. It is,
however, pertinent to note that at the time of writing the Economic survey, new restrictions were
being introduced within the country and worldwide due to the Omicron variant, posing fresh
risk to the ongoing recovery, especially in contact intensive segments.