Discrepancies in GDP Data

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.