The GDP obfuscation

The new methodology of calculating GDP is more in line with international standards

In February 2015, India’s Central Statistical Office (CSO) revised the methodology for calculating the country’s gross domestic product (GDP). The new methodology is more in line with international standards. At that time, the CSO revised GDP growth estimates for FY12 (financial year 2011-12), FY13, FY14, and FY15. The CSO promised to revise the GDP data for earlier years. From a policy perspective, this is necessary in order to compare current growth with that in the past years. But more than three years later, the CSO has still not provided it. This is unconscionable as it creates credibility problems for the data that the Indian government puts out. The government must explain why it has failed to publish the full GDP growth time series. Countries around the world update their GDP methodologies but, unlike India, many countries have no problem revising past data.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

MONTHLY

₹ 249

Select

ANNUAL

₹ 1799

Select

Best Offer

SMART ANNUAL

₹ 1499

₹ 1799

Opt for auto renewal and save Rs 300

Select

What you get on Business Standard Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Pick your 5 favourite companies, get a daily email with all news updates on them.
26 years of website archives.
Preferential invites to Business Standard events.