{"id":325826,"date":"2025-12-02T10:18:18","date_gmt":"2025-12-02T10:18:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/325826\/"},"modified":"2025-12-02T10:18:18","modified_gmt":"2025-12-02T10:18:18","slug":"indias-gdp-data-robust-new-series-in-february","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/325826\/","title":{"rendered":"India\u2019s GDP data robust, new series in February"},"content":{"rendered":"

India\u2019s gross domestic product (GDP) calculation is based on updated and dynamic trends such as Unified Payments Interface<\/a> (UPI), ecommerce, transport & food aggregators and electric vehicles, officials said amid concerns over the quality of official data.<\/p>\n

They also said extensive data inputs with around 700 granular indicators are used for the quarterly estimates.<\/p>\n

\u201cSince last two years, the work of rebasing of national accounts statistics<\/a> is going on and is now at an advanced stage,\u201d one of them said, adding that the new series with base 2022-23 will be launched on February 27.
Last week, the International Monetary Fund (IMF) gave India\u2019s National Account Statistics a \u2018C\u2019 rating, indicating shortcomings that somewhat hamper surveillance. Other datasets, including price indices, government finance statistics, external sector data, and monetary and financial statistics, received a \u2018B\u2019 rating, meaning they are broadly adequate but still have gaps.<\/p>\n

India\u2019s GDP growth rate<\/a> unexpectedly surged to a six-quarter high of 8.2% in July-September from 7.8% in April-June.<\/p>\n

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\u201cThe rebasing project includes collection of key data sources for the benchmark revision using surveys and studies, methodological improvements, regular use of updated survey data to better capture dynamics in the informal sector, and the assessment of additional data sources,\u201d the official said.<\/p>\n

Moreover, the annual production of different industries is captured dynamically.<\/p>\n

Addressing the concern raised over discrepancy between production and expenditure method of GDP calculation, the official said the gap is published as \u2018statistical discrepancy\u2019 in India\u2019s expenditure estimates.<\/p>\n

\u201cSince production approach estimate is based on a robust set of indicators in terms of timeliness and reliability, GDP by production approach is considered as official estimates.\u201d<\/p>\n

The official added that such discrepancies in quarterly data is a common phenomena across countries.<\/p>\n

In the new series, the two approaches will be reconciled using a \u2018Supply & Use Tables\u2019 framework, which will reduce the discrepancy in the final national account estimates.<\/p>\n

WPI, informal sector<\/p>\n

On the use of Wholesale Price Index (WPI), the official said the WPI and Producer Price Index (PPI) differ marginally in terms of weight and coverage, adding that once PPI becomes available, the ministry will use it wherever applicable in the new series.<\/p>\n

Regarding informal sector measurement<\/a>, the official noted that current estimates rely on unincorporated enterprises and employment survey data for the base year, which are then projected forward using industry-specific indicators. Around one-fourth of India\u2019s gross value added comes from the non-agricultural informal sector, which is estimated using a benchmark method.<\/p>\n

With the Annual Survey of Unincorporated Sector Enterprises and the Periodic Labour Force Survey being conducted annually, the new GDP series will use updated informal sector data every year, the official said.<\/p>\n","protected":false},"excerpt":{"rendered":"India\u2019s gross domestic product (GDP) calculation is based on updated and dynamic trends such as Unified Payments Interface…\n","protected":false},"author":2,"featured_media":325827,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101,73109,166116,166114,166117,166115,8075],"class_list":{"0":"post-325826","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-gdp-growth-rate","11":"tag-imf-india-rating","12":"tag-india-gdp-calculation","13":"tag-informal-sector-measurement","14":"tag-national-accounts-statistics","15":"tag-unified-payments-interface"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/325826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=325826"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/325826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/325827"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=325826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=325826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=325826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}