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Anant, T. C. A.
- GDP Estimation in India:Some Reflections
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1 Ministry of Statistics and Programme Implementation, Government of India, New Delhi, IN
1 Ministry of Statistics and Programme Implementation, Government of India, New Delhi, IN
Source
Journal of Indian School of Political Economy, Vol 29, No 1-2 (2017), Pagination: 7-13Abstract
GDP estimation represents an important area of collaboration between academia and official statisticians. The recent revision to the Indian System of National Accounts have led to great deal of debate on various aspects of GDP estimation. In this paper, we explore some of these issues distinguishing between misconceptions and genuine areas needing further research or improvements in data. We examine the interplay between theoretical constructs and the structures of practical functioning. Understanding these issues is critical to removing the disconnect between economic theory and the needs of a practical policy.- Discrepancies in GDP Data
Abstract Views :175 |
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Authors
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1 Chief Statistician of India, IN
1 Chief Statistician of India, IN
Source
Journal of Indian School of Political Economy, Vol 29, No 1-2 (2017), Pagination: 370-370Abstract
First, on discrepancies in GDP estimation: In India, GDP is calculated by both the production approach and expenditure approach. However, GDP estimates compiled through production approach (GVA [gross value added] at basic prices + Indirect taxes less subsidies) are treated as firmer and more reliable estimates of GDP as more complete data is available for compilation under this approach. The assessment on the expenditure side, based on much more limited data leads to differences, technically termed as "discrepancy" in the expenditure side to match the GDP numbers emanating from the production approach. This practice is consistent with the SNA (System of National Accounts) - 2008. In the past also there have been instances when discrepancies were even higher.- India’s New GDP Series: Implications for the Estimation of GSDP
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Authors
Affiliations
1 Ministry of Statistics and Programme Implementation, Government of India., IN
1 Ministry of Statistics and Programme Implementation, Government of India., IN