Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Back series data trim GDP growth rates for FY05-12 -KR Srivats    </title>
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-The Hindu Business Line

But the economy size gets a bump-up under new base year

New Delhi: It&rsquo;s official now. The government-initiated recalibration of the economy for the years 2004-05 to 2011-12, based on the new base year 2011-12, paints a somewhat..."/>
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-The Hindu Business Line

But the economy size gets a bump-up under new base year

New Delhi: It&rsquo;s official now. The government-initiated recalibration of the economy for the years 2004-05 to 2011-12, based on the new base year 2011-12, paints a somewhat..." />
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    <h1 class="cat-box-title">Back series data trim GDP growth rates for FY05-12 -KR Srivats</h1>
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>But the economy size gets a bump-up under new base year<br /><br />New Delhi: </em>It&rsquo;s official now. The government-initiated recalibration of the economy for the years 2004-05 to 2011-12, based on the new base year 2011-12, paints a somewhat less cheerful picture on the GDP growth front for these years.<br /><br />However, the new methodology of changed base year (2011-12) with the latest data sources and improved coverage has bumped up the economy&rsquo;s size in these eight years, resulting in a statistical effect of lowering GDP growth rates, say economy watchers.<br /><br />One of the key takeaways from the back series estimates for 2004-05 to 2011-12 &mdash; released by the Central Statistics Office (CSO) here on Wednesday &mdash; is that GDP growth rates for these years under the earlier 2004-05 base year was &ldquo;uniformly lower&rdquo; than those in the new base year of 2011-12.<br /><br />Part of the reason is that a change in base year to 2011-12 means increase in output levels (at constant prices) due to increased prices under the new base year.<br /><br />Simply put, a plain comparison &mdash; although neither desirable nor ideal &mdash; of the two series (2011-12 vis-&agrave;-vis 2004-05) showed that GDP growth rates under the old series (2004-05) may have been overstated.<br /><br />This lower GDP growth rate trend was evident in each of the years from 2004-05 to 2011-12. Interestingly, the maximum GDP growth rate recorded in these years under the back series estimate for 2004-05 to 2011-12 was 8.5 per cent in 2010-11, much lower than the 10.3 per cent growth rate recorded under the previous base year 2004-05.<br /><br />The CSO&rsquo;s 2011-12 back series computation on latest data sets, after factoring in the UN System of National Accounts (SNA-2008), demolishes the notion in several quarters that the Indian economy was entirely insulated from the global financial crisis in 2008-09, said economy watchers.<br /><br />As against the earlier estimated GDP growth of 3.9 per cent in 2008-09, the Indian economy had only grown 3.1 per cent in that year, the latest back series data released on Wednesday revealed.<br /><br />Also, the widespread belief that India&rsquo;s economic growth had a &ldquo;golden&rdquo; run between 2005-06 and 2007-08 is somewhat diluted going by the latest recalibrated growth rates for these years.<br /><br />As against the earlier estimated growth rates of 9.3 per cent (2005-06), 9.3 per cent (2006-07) and 9.8 per cent( 2007-08), the GDP print for these years under the back series came in at 7.9 per cent, 8.1 per cent and 7.7 per cent respectively.<br /><br />Please <a href="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true" title="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true" class="re" target="_blank">The Hindu Business Line, 29 November, 2018, https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true</a><div class="clear"></div>
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    <h1 class="cat-box-title">Back series data trim GDP growth rates for FY05-12 -KR Srivats</h1>
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>But the economy size gets a bump-up under new base year<br /><br />New Delhi: </em>It&rsquo;s official now. The government-initiated recalibration of the economy for the years 2004-05 to 2011-12, based on the new base year 2011-12, paints a somewhat less cheerful picture on the GDP growth front for these years.<br /><br />However, the new methodology of changed base year (2011-12) with the latest data sources and improved coverage has bumped up the economy&rsquo;s size in these eight years, resulting in a statistical effect of lowering GDP growth rates, say economy watchers.<br /><br />One of the key takeaways from the back series estimates for 2004-05 to 2011-12 &mdash; released by the Central Statistics Office (CSO) here on Wednesday &mdash; is that GDP growth rates for these years under the earlier 2004-05 base year was &ldquo;uniformly lower&rdquo; than those in the new base year of 2011-12.<br /><br />Part of the reason is that a change in base year to 2011-12 means increase in output levels (at constant prices) due to increased prices under the new base year.<br /><br />Simply put, a plain comparison &mdash; although neither desirable nor ideal &mdash; of the two series (2011-12 vis-&agrave;-vis 2004-05) showed that GDP growth rates under the old series (2004-05) may have been overstated.<br /><br />This lower GDP growth rate trend was evident in each of the years from 2004-05 to 2011-12. Interestingly, the maximum GDP growth rate recorded in these years under the back series estimate for 2004-05 to 2011-12 was 8.5 per cent in 2010-11, much lower than the 10.3 per cent growth rate recorded under the previous base year 2004-05.<br /><br />The CSO&rsquo;s 2011-12 back series computation on latest data sets, after factoring in the UN System of National Accounts (SNA-2008), demolishes the notion in several quarters that the Indian economy was entirely insulated from the global financial crisis in 2008-09, said economy watchers.<br /><br />As against the earlier estimated GDP growth of 3.9 per cent in 2008-09, the Indian economy had only grown 3.1 per cent in that year, the latest back series data released on Wednesday revealed.<br /><br />Also, the widespread belief that India&rsquo;s economic growth had a &ldquo;golden&rdquo; run between 2005-06 and 2007-08 is somewhat diluted going by the latest recalibrated growth rates for these years.<br /><br />As against the earlier estimated growth rates of 9.3 per cent (2005-06), 9.3 per cent (2006-07) and 9.8 per cent( 2007-08), the GDP print for these years under the back series came in at 7.9 per cent, 8.1 per cent and 7.7 per cent respectively.<br /><br />Please <a href="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true" title="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true" class="re" target="_blank">The Hindu Business Line, 29 November, 2018, https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true</a><div class="clear"></div>
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-The Hindu Business Line

But the economy size gets a bump-up under new base year

New Delhi: It&rsquo;s official now. The government-initiated recalibration of the economy for the years 2004-05 to 2011-12, based on the new base year 2011-12, paints a somewhat..." />
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>But the economy size gets a bump-up under new base year<br /><br />New Delhi: </em>It&rsquo;s official now. The government-initiated recalibration of the economy for the years 2004-05 to 2011-12, based on the new base year 2011-12, paints a somewhat less cheerful picture on the GDP growth front for these years.<br /><br />However, the new methodology of changed base year (2011-12) with the latest data sources and improved coverage has bumped up the economy&rsquo;s size in these eight years, resulting in a statistical effect of lowering GDP growth rates, say economy watchers.<br /><br />One of the key takeaways from the back series estimates for 2004-05 to 2011-12 &mdash; released by the Central Statistics Office (CSO) here on Wednesday &mdash; is that GDP growth rates for these years under the earlier 2004-05 base year was &ldquo;uniformly lower&rdquo; than those in the new base year of 2011-12.<br /><br />Part of the reason is that a change in base year to 2011-12 means increase in output levels (at constant prices) due to increased prices under the new base year.<br /><br />Simply put, a plain comparison &mdash; although neither desirable nor ideal &mdash; of the two series (2011-12 vis-&agrave;-vis 2004-05) showed that GDP growth rates under the old series (2004-05) may have been overstated.<br /><br />This lower GDP growth rate trend was evident in each of the years from 2004-05 to 2011-12. Interestingly, the maximum GDP growth rate recorded in these years under the back series estimate for 2004-05 to 2011-12 was 8.5 per cent in 2010-11, much lower than the 10.3 per cent growth rate recorded under the previous base year 2004-05.<br /><br />The CSO&rsquo;s 2011-12 back series computation on latest data sets, after factoring in the UN System of National Accounts (SNA-2008), demolishes the notion in several quarters that the Indian economy was entirely insulated from the global financial crisis in 2008-09, said economy watchers.<br /><br />As against the earlier estimated GDP growth of 3.9 per cent in 2008-09, the Indian economy had only grown 3.1 per cent in that year, the latest back series data released on Wednesday revealed.<br /><br />Also, the widespread belief that India&rsquo;s economic growth had a &ldquo;golden&rdquo; run between 2005-06 and 2007-08 is somewhat diluted going by the latest recalibrated growth rates for these years.<br /><br />As against the earlier estimated growth rates of 9.3 per cent (2005-06), 9.3 per cent (2006-07) and 9.8 per cent( 2007-08), the GDP print for these years under the back series came in at 7.9 per cent, 8.1 per cent and 7.7 per cent respectively.<br /><br />Please <a href="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true" title="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true" class="re" target="_blank">The Hindu Business Line, 29 November, 2018, https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true</a><div class="clear"></div>
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Home हिन्दी

Back series data trim GDP growth rates for FY05-12 -KR Srivats

Published on Nov 29, 2018   Modified on Nov 29, 2018

-The Hindu Business Line But the economy size gets a bump-up under new base year New Delhi: It’s official now. The government-initiated recalibration of the economy for the years 2004-05 to 2011-12, based on the new base year 2011-12, paints a somewhat less cheerful picture on the GDP growth front for these years. However, the new methodology of changed base year (2011-12) with the latest data sources and improved coverage has bumped up the economy’s size in these eight years, resulting in a statistical effect of lowering GDP growth rates, say economy watchers. One of the key takeaways from the back series estimates for 2004-05 to 2011-12 — released by the Central Statistics Office (CSO) here on Wednesday — is that GDP growth rates for these years under the earlier 2004-05 base year was “uniformly lower” than those in the new base year of 2011-12. Part of the reason is that a change in base year to 2011-12 means increase in output levels (at constant prices) due to increased prices under the new base year. Simply put, a plain comparison — although neither desirable nor ideal — of the two series (2011-12 vis-à-vis 2004-05) showed that GDP growth rates under the old series (2004-05) may have been overstated. This lower GDP growth rate trend was evident in each of the years from 2004-05 to 2011-12. Interestingly, the maximum GDP growth rate recorded in these years under the back series estimate for 2004-05 to 2011-12 was 8.5 per cent in 2010-11, much lower than the 10.3 per cent growth rate recorded under the previous base year 2004-05. The CSO’s 2011-12 back series computation on latest data sets, after factoring in the UN System of National Accounts (SNA-2008), demolishes the notion in several quarters that the Indian economy was entirely insulated from the global financial crisis in 2008-09, said economy watchers. As against the earlier estimated GDP growth of 3.9 per cent in 2008-09, the Indian economy had only grown 3.1 per cent in that year, the latest back series data released on Wednesday revealed. Also, the widespread belief that India’s economic growth had a “golden” run between 2005-06 and 2007-08 is somewhat diluted going by the latest recalibrated growth rates for these years. As against the earlier estimated growth rates of 9.3 per cent (2005-06), 9.3 per cent (2006-07) and 9.8 per cent( 2007-08), the GDP print for these years under the back series came in at 7.9 per cent, 8.1 per cent and 7.7 per cent respectively. Please click here to read more.

The Hindu Business Line, 29 November, 2018, https://www.thehindubusinessline.com/economy/back-series-data-trim-gdp-growth-rates-for-fy05-12/article25616568.ece?homepage=true

Tagged with: Central Statistics Office (CSO) Ministry of Statistics and Programme Implementation Ministry of Statistics and Programme Implementation (MoSPI) GDP Back-series GDP estimates GDP growth

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