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
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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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    <h1 class="cat-box-title">India&#039;s GDP Debate: What Explains Reduced Growth Rates Under the UPA? -R Nagaraj</h1>
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                            <div align="justify">-TheWire.in<br /><br /><em>How correct was it for the Central Statistics Office to have selectively used contested methods for preparing the back series data?<br /></em><br />The spotlight is back on India&rsquo;s growth rates, three years after the gross domestic product (GDP) data using the 2011-12 base year was released.<br /><br />Before trying to delve into the controversy surrounding the back-series data &ndash; which saw GDP growth from 2006-2012 reduce significantly &ndash; it is important to understand how we measure GDP and what happened during the last base year revision.<br /><br />GDP, or gross value added (GVA), is a measure of goods and services produced in an economy in a year, net of intermediate inputs. Broadly-speaking, it is a statistical construct based on innumerable estimations of value addition taking place in an economy.<br /><br />GDP is estimated following the UN System of National Accounts (UNSNA) &ndash; a global template, revised periodically to account for evolving economic activities.<br /><br />The National Accounts Statistics (NAS) &ndash; the Central Statistical Office&rsquo;s (CSO) annual publication which reported GDP estimates with the base year 2011-12 &ndash; was released in early 2015. The base year revision has always followed the UNSNA guidelines; the previous revision was with the base year 2004-05.<br /><br />GDP is re-based regularly to account for changing production structure, relative prices and better recording of economic activities. Crucially, the re-basing also allows for introducing newer methodologies and improved databases. Such changes often expand the absolute GDP size because we are able to more accurately capture output. However, annual growth rates usually do not vary too much with re-basing of GDP &ndash; implying that the underlying pace of economic expansion has remained the same.<br /><br />The last revision was somewhat peculiar as it resulted in a 2.3 percentage point shrinkage of the absolute GDP (GVA) size in the base year (2011-12), thus raising India&rsquo;s growth rates in the following years. For instance, in 2013-14, the growth rate of the manufacturing sector swung from (-) 0.7% in the old series to (+) 5.3% in the new series. <br /><br />Please <a href="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa" title="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa" class="re" target="_blank">TheWire.in, 2 December, 2018, https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa</a><div class="clear"></div>
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    <h1 class="cat-box-title">India&#039;s GDP Debate: What Explains Reduced Growth Rates Under the UPA? -R Nagaraj</h1>
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                            <div align="justify">-TheWire.in<br /><br /><em>How correct was it for the Central Statistics Office to have selectively used contested methods for preparing the back series data?<br /></em><br />The spotlight is back on India&rsquo;s growth rates, three years after the gross domestic product (GDP) data using the 2011-12 base year was released.<br /><br />Before trying to delve into the controversy surrounding the back-series data &ndash; which saw GDP growth from 2006-2012 reduce significantly &ndash; it is important to understand how we measure GDP and what happened during the last base year revision.<br /><br />GDP, or gross value added (GVA), is a measure of goods and services produced in an economy in a year, net of intermediate inputs. Broadly-speaking, it is a statistical construct based on innumerable estimations of value addition taking place in an economy.<br /><br />GDP is estimated following the UN System of National Accounts (UNSNA) &ndash; a global template, revised periodically to account for evolving economic activities.<br /><br />The National Accounts Statistics (NAS) &ndash; the Central Statistical Office&rsquo;s (CSO) annual publication which reported GDP estimates with the base year 2011-12 &ndash; was released in early 2015. The base year revision has always followed the UNSNA guidelines; the previous revision was with the base year 2004-05.<br /><br />GDP is re-based regularly to account for changing production structure, relative prices and better recording of economic activities. Crucially, the re-basing also allows for introducing newer methodologies and improved databases. Such changes often expand the absolute GDP size because we are able to more accurately capture output. However, annual growth rates usually do not vary too much with re-basing of GDP &ndash; implying that the underlying pace of economic expansion has remained the same.<br /><br />The last revision was somewhat peculiar as it resulted in a 2.3 percentage point shrinkage of the absolute GDP (GVA) size in the base year (2011-12), thus raising India&rsquo;s growth rates in the following years. For instance, in 2013-14, the growth rate of the manufacturing sector swung from (-) 0.7% in the old series to (+) 5.3% in the new series. <br /><br />Please <a href="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa" title="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa" class="re" target="_blank">TheWire.in, 2 December, 2018, https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa</a><div class="clear"></div>
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    <h1 class="cat-box-title">India&#039;s GDP Debate: What Explains Reduced Growth Rates Under the UPA? -R Nagaraj</h1>
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                            <div align="justify">-TheWire.in<br /><br /><em>How correct was it for the Central Statistics Office to have selectively used contested methods for preparing the back series data?<br /></em><br />The spotlight is back on India&rsquo;s growth rates, three years after the gross domestic product (GDP) data using the 2011-12 base year was released.<br /><br />Before trying to delve into the controversy surrounding the back-series data &ndash; which saw GDP growth from 2006-2012 reduce significantly &ndash; it is important to understand how we measure GDP and what happened during the last base year revision.<br /><br />GDP, or gross value added (GVA), is a measure of goods and services produced in an economy in a year, net of intermediate inputs. Broadly-speaking, it is a statistical construct based on innumerable estimations of value addition taking place in an economy.<br /><br />GDP is estimated following the UN System of National Accounts (UNSNA) &ndash; a global template, revised periodically to account for evolving economic activities.<br /><br />The National Accounts Statistics (NAS) &ndash; the Central Statistical Office&rsquo;s (CSO) annual publication which reported GDP estimates with the base year 2011-12 &ndash; was released in early 2015. The base year revision has always followed the UNSNA guidelines; the previous revision was with the base year 2004-05.<br /><br />GDP is re-based regularly to account for changing production structure, relative prices and better recording of economic activities. Crucially, the re-basing also allows for introducing newer methodologies and improved databases. Such changes often expand the absolute GDP size because we are able to more accurately capture output. However, annual growth rates usually do not vary too much with re-basing of GDP &ndash; implying that the underlying pace of economic expansion has remained the same.<br /><br />The last revision was somewhat peculiar as it resulted in a 2.3 percentage point shrinkage of the absolute GDP (GVA) size in the base year (2011-12), thus raising India&rsquo;s growth rates in the following years. For instance, in 2013-14, the growth rate of the manufacturing sector swung from (-) 0.7% in the old series to (+) 5.3% in the new series. <br /><br />Please <a href="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa" title="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa" class="re" target="_blank">TheWire.in, 2 December, 2018, https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa</a><div class="clear"></div>
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India's GDP Debate: What Explains Reduced Growth Rates Under the UPA? -R Nagaraj

Published on Dec 4, 2018   Modified on Dec 4, 2018

-TheWire.in How correct was it for the Central Statistics Office to have selectively used contested methods for preparing the back series data? The spotlight is back on India’s growth rates, three years after the gross domestic product (GDP) data using the 2011-12 base year was released. Before trying to delve into the controversy surrounding the back-series data – which saw GDP growth from 2006-2012 reduce significantly – it is important to understand how we measure GDP and what happened during the last base year revision. GDP, or gross value added (GVA), is a measure of goods and services produced in an economy in a year, net of intermediate inputs. Broadly-speaking, it is a statistical construct based on innumerable estimations of value addition taking place in an economy. GDP is estimated following the UN System of National Accounts (UNSNA) – a global template, revised periodically to account for evolving economic activities. The National Accounts Statistics (NAS) – the Central Statistical Office’s (CSO) annual publication which reported GDP estimates with the base year 2011-12 – was released in early 2015. The base year revision has always followed the UNSNA guidelines; the previous revision was with the base year 2004-05. GDP is re-based regularly to account for changing production structure, relative prices and better recording of economic activities. Crucially, the re-basing also allows for introducing newer methodologies and improved databases. Such changes often expand the absolute GDP size because we are able to more accurately capture output. However, annual growth rates usually do not vary too much with re-basing of GDP – implying that the underlying pace of economic expansion has remained the same. The last revision was somewhat peculiar as it resulted in a 2.3 percentage point shrinkage of the absolute GDP (GVA) size in the base year (2011-12), thus raising India’s growth rates in the following years. For instance, in 2013-14, the growth rate of the manufacturing sector swung from (-) 0.7% in the old series to (+) 5.3% in the new series. Please click here to read more.

TheWire.in, 2 December, 2018, https://thewire.in/macro/indias-gdp-debate-what-explains-reduced-growth-rates-under-the-upa

Tagged with: gross value added Gross Value Added (GVA) GDP Back-series GDP estimates GDP growth

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