Journal of Indian School of Political Economy

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Some Unsettled Questions about Indian Manufacturing GDP Estimation


Affiliations
1 Indian Institute of Technology, Kanpur, India
2 National Institute of Public Finance and Policy, New Delhi, India
     

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We discuss some unsettled questions about the GDP estimation process in the manufacturing sector. We further the debate on the use of Paid-Up Capital based blow up method of GVA and highlight the problem of possible overestimation. Based on previous evidence, we also highlight problems with measures of output and cost and identification of manufacturing firms for purposes of GVA estimation. We argue that the recourse lies in finding an alternative to the Paid-Up Capital blow up factor and that identification of firms remains a crucial problem to solve.

Keywords

National Accounts, GDP, Manufacturing, Value Addition, India.
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  • CSO, 2015a; "No room for doubts on new GDP numbers", EconomicandPolitical Weekly, Vol. L, No. 16,April 18th.

  • CSO, 2015b; Final Report of the Sub-Committee on Private Corporate Sector including PPPs, National Accounts Division, Ministry of Statistics and Programme Implementation, Government of India, New Delhi

  • Manna, G.C., 2017; "An investigation into some contentious issues of GDP estimation", Journal of Indian School of Political Economy, Forthcoming.

  • Nagaraj, R., 2015a; "Seeds of doubt on new GDP numbers Private corporate sector overestimated?", Economic and Political Weekly, Vol. L, No. 13, March 28th.

  • Nagaraj, R., 2015b; "Seeds of doubt remain:Areply to CSO’s rejoinder", Economic and Political Weekly, Vol. L, No. 18, May 8th.

  • Shetty, S.L. and Dennis Rajakumar, 2017; "New National Accounts series: Areview and highlights of critical issues for debate", Journal of Indian School of Political Economy, Forthcoming

  • Sapre, Amey and Pramod Sinha, 2016; "Some areas of concern about Indian manufacturing sector GDP estimation", National Institute of Public Finance and Policy (NIPFP) Working Paper, No. 172/2016.


Abstract Views: 176

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  • Some Unsettled Questions about Indian Manufacturing GDP Estimation

Abstract Views: 176  |  PDF Views: 4

Authors

Amey Sapre
Indian Institute of Technology, Kanpur, India
Pramod Sinha
National Institute of Public Finance and Policy, New Delhi, India

Abstract


We discuss some unsettled questions about the GDP estimation process in the manufacturing sector. We further the debate on the use of Paid-Up Capital based blow up method of GVA and highlight the problem of possible overestimation. Based on previous evidence, we also highlight problems with measures of output and cost and identification of manufacturing firms for purposes of GVA estimation. We argue that the recourse lies in finding an alternative to the Paid-Up Capital blow up factor and that identification of firms remains a crucial problem to solve.

Keywords


National Accounts, GDP, Manufacturing, Value Addition, India.

References