Journal of Indian School of Political Economy

Abstract

This paper explains the impact of the new series of National accounts on State’s GSDP. It shows the positive and negative aspects of introduction of new data set and definitions in compilation of State Income Accounts. In this paper six major issues on measurement of GSDP in the new series will be discussed. These are: (1) Factor cost GSDP v/s Market Price GSDP; (2) MCA 21 data base for Private corporate sector; (3) Effective labour input method for unorganised sector; (4) Mining sector in the new series; (5) Strengthening the state data base; (6) Scope for improvement in current data base.

Technological changes are rapidly taking place in the economy. It is a great challenge to the Indian economy to capture these changes in the estimation of GSDP. While incorporating these changes in the system, some problems may be seen at disaggregated level but we should solve these issues. For example, the portals of different ministries/departments should be integrated and data must be available on one platform. Recent use of MCA data at central level created dissatisfaction among the states because of non-availability of state wise data. States may develop their own system of analysing company accounts. A separate software and portal can be developed for ananlysing the state wise company accounts. MoSPI should think on the issue of strengthening states by providing technological and methodological support for updating the concept and data base.

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