ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Not Entirely Convincing

Estimates of High GDP Growth for 2015-16

In producing the new series, the Central Statistics Office with its rebased National Accounts Statistics has done a studious job of marshalling diverse sources of data and weaving them together into a composite new source. However, the final picture of NAS data would have been more acceptable if better caution was exercised in using new concepts as well as new sources of data, and in weighing the growth results against frequent and extensive revisions. The CSO has failed to refine the growth results juxtaposed against the repetitive and substantial revisions that the data sources have impelled and have completely ignored the analytical construct of gross domestic product at factor cost.

In producing the new series, the Central Statistics Office with its rebased National Accounts Statistics has done a studious job of marshalling diverse sources of data and weaving them together into a composite new source. However, the final picture of NAS data would have been more acceptable if better caution was exercised in using new concepts as well as new sources of data, and in weighing the growth results against frequent and extensive revisions. The CSO has failed to refine the growth results juxtaposed against the repetitive and substantial revisions that the data sources have impelled and have completely ignored the analytical construct of gross domestic product at factor cost.

Since January 2015 when the Central Statistics Office (CSO) had rebased National Accounts Statistics (NAS) to 2011–12 prices, the quality of national income statistics has attracted wide attention. According to the NAS new series, gross domestic product (GDP) at market prices, now treated as the kingpin of national income concepts, has been accelerating in its growth during the last four years and has made India stand taller amongst its counterparts worldwide.

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