Advance Estimates have accurately projected the real GDP growth rate in three of the past 12 years. In 2017-18, the second Advance Estimate was accurate, while the first one was not.
The growth rate was actually higher than the Advance Estimate for 2009-10. The first and second Advance Estimates were the same for 2019-20, but turned out to be wrong when the actual number came. It was probably because the first Advance Estimate came out on January 6 when the impact of Covid-19 was difficult to gauge.
However, the second Advance Estimate, presented on February 28, could not assess the impact. The data for 2020-21 will be released on Thursday.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.