Journal of Indian School of Political Economy

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India’s New GDP Series-Implication for the Estimation of GSDP at State Level


Affiliations
1 Department of Economics and Statistics, Government of Himachal Pradesh, Block No. 38-SDA Complex, Kasumpti, Shimla-171009, India
2 Department of Economics and Statistics, Government of Himachal Pradesh, Block No. 38-SDA Complex Kasumpti, Shimla-171009, India
     

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This paper presents the Comparative growth rates for the year 2012-13 to 2014-15 on old and new base year. The paper finds that changing the base year contributes to the increment in growth rates substantially - to about one percent. This is due to the changes in the prices and deflator in the economy. Besides, the paper also investigates the prevailing data gaps in calculating the growth rate. In view of potential of tourism development in the state the availability of data particularly in this sector remains the major issue and to address this, satellite accounts are proposed.

Keywords

Economic Growth, Data Gaps, Base Year, Inflation.
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  • Anant, T C A, 2015; "Don’t Compare New GDP Data Series with Old", The Economic Times, 14 April.

  • Central Statistics Office, 2015; "No Room for Doubts on New GDPNumbers", Economic and Political Weekly, Vol. 50, No. 16, 18 April.

  • Central Statistics Office, 2016; "First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation 2014-15", Press Note, 29 January.

  • Government of India (GoI), 2001; Report of the National Statistical Commission, New Delhi.

  • Shaw, Abhishek, 2013; "Comparing NSSO’s Employment Survey -Amethodological Note", Economic and Political Weekly, Vol. 48, No. 30, July 27.

  • United Nations, 2008; A System of National Accounts, 2008.


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  • India’s New GDP Series-Implication for the Estimation of GSDP at State Level

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Authors

Pradeep Chauhan
Department of Economics and Statistics, Government of Himachal Pradesh, Block No. 38-SDA Complex, Kasumpti, Shimla-171009, India
Vinod Kumar
Department of Economics and Statistics, Government of Himachal Pradesh, Block No. 38-SDA Complex Kasumpti, Shimla-171009, India

Abstract


This paper presents the Comparative growth rates for the year 2012-13 to 2014-15 on old and new base year. The paper finds that changing the base year contributes to the increment in growth rates substantially - to about one percent. This is due to the changes in the prices and deflator in the economy. Besides, the paper also investigates the prevailing data gaps in calculating the growth rate. In view of potential of tourism development in the state the availability of data particularly in this sector remains the major issue and to address this, satellite accounts are proposed.

Keywords


Economic Growth, Data Gaps, Base Year, Inflation.

References