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
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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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
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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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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The dilemma regarding reliability is usually the greatest around the release of advance estimates

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                            <div align="justify">-Business Standard<br /><br /><em>The dilemma regarding reliability is usually the greatest around the release of advance estimates<br /></em><br />Analysts at the Reserve Bank of India (RBI) have questioned the numerous revisions in gross domestic product (GDP) data by the statistics office. RBI has said this confuses analysts about the economy.<br /><br />It suggested the Central Statistics Office (CSO) incorporate data on high frequency economic indicators such as commercial vehicles and international air passenger traffic. It should employ state-of-the-art methods such as 'nowcasting' to arrive at precise estimates of growth in their advance estimates.<br /><br />A new paper by the analysts examines deviations in economic growth between the first release (or advance estimates) and the final growth estimates, published by CSO. It found the advance estimates tended to underestimate gross value added (GVA) and GDP.<br /><br />The study titled, 'Examining Gross Domestic Product Data Revisions in India', cited examples. For example, it said, GDP grew 7.6 per cent in 2015-16 according to CSO's first advance estimate. It was changed to 7.9 per cent in the first revised estimate and to 8.2 per cent in the second revised estimate.<br /><br />&ldquo;In view of multiple rounds of data revision, it may be confusing for data users to decide on the true state of the economy, and the real strength of growth momentum,&rdquo; the study noted.<br /><br />The dilemma regarding reliability is usually the greatest around the release of advance estimates, generally understood to be tentative and liable to change with the arrival of subsequent datasets, it said.<br /><br />Please <a href="http://www.business-standard.com/article/economy-policy/multiple-revisions-of-official-gdp-data-confuses-analysts-says-rbi-118050300028_1.html" title="http://www.business-standard.com/article/economy-policy/multiple-revisions-of-official-gdp-data-confuses-analysts-says-rbi-118050300028_1.html">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-Business Standard<br /><br /><em>The dilemma regarding reliability is usually the greatest around the release of advance estimates<br /></em><br />Analysts at the Reserve Bank of India (RBI) have questioned the numerous revisions in gross domestic product (GDP) data by the statistics office. RBI has said this confuses analysts about the economy.<br /><br />It suggested the Central Statistics Office (CSO) incorporate data on high frequency economic indicators such as commercial vehicles and international air passenger traffic. It should employ state-of-the-art methods such as 'nowcasting' to arrive at precise estimates of growth in their advance estimates.<br /><br />A new paper by the analysts examines deviations in economic growth between the first release (or advance estimates) and the final growth estimates, published by CSO. It found the advance estimates tended to underestimate gross value added (GVA) and GDP.<br /><br />The study titled, 'Examining Gross Domestic Product Data Revisions in India', cited examples. For example, it said, GDP grew 7.6 per cent in 2015-16 according to CSO's first advance estimate. It was changed to 7.9 per cent in the first revised estimate and to 8.2 per cent in the second revised estimate.<br /><br />&ldquo;In view of multiple rounds of data revision, it may be confusing for data users to decide on the true state of the economy, and the real strength of growth momentum,&rdquo; the study noted.<br /><br />The dilemma regarding reliability is usually the greatest around the release of advance estimates, generally understood to be tentative and liable to change with the arrival of subsequent datasets, it said.<br /><br />Please <a href="http://www.business-standard.com/article/economy-policy/multiple-revisions-of-official-gdp-data-confuses-analysts-says-rbi-118050300028_1.html" title="http://www.business-standard.com/article/economy-policy/multiple-revisions-of-official-gdp-data-confuses-analysts-says-rbi-118050300028_1.html">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-Business Standard<br /><br /><em>The dilemma regarding reliability is usually the greatest around the release of advance estimates<br /></em><br />Analysts at the Reserve Bank of India (RBI) have questioned the numerous revisions in gross domestic product (GDP) data by the statistics office. RBI has said this confuses analysts about the economy.<br /><br />It suggested the Central Statistics Office (CSO) incorporate data on high frequency economic indicators such as commercial vehicles and international air passenger traffic. It should employ state-of-the-art methods such as 'nowcasting' to arrive at precise estimates of growth in their advance estimates.<br /><br />A new paper by the analysts examines deviations in economic growth between the first release (or advance estimates) and the final growth estimates, published by CSO. It found the advance estimates tended to underestimate gross value added (GVA) and GDP.<br /><br />The study titled, 'Examining Gross Domestic Product Data Revisions in India', cited examples. For example, it said, GDP grew 7.6 per cent in 2015-16 according to CSO's first advance estimate. It was changed to 7.9 per cent in the first revised estimate and to 8.2 per cent in the second revised estimate.<br /><br />&ldquo;In view of multiple rounds of data revision, it may be confusing for data users to decide on the true state of the economy, and the real strength of growth momentum,&rdquo; the study noted.<br /><br />The dilemma regarding reliability is usually the greatest around the release of advance estimates, generally understood to be tentative and liable to change with the arrival of subsequent datasets, it said.<br /><br />Please <a href="http://www.business-standard.com/article/economy-policy/multiple-revisions-of-official-gdp-data-confuses-analysts-says-rbi-118050300028_1.html" title="http://www.business-standard.com/article/economy-policy/multiple-revisions-of-official-gdp-data-confuses-analysts-says-rbi-118050300028_1.html">click here</a> to read more. <br /></div>                                                           
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Multiple revisions of official GDP data confuses analysts, says RBI -Ishan Bakshi

Published on May 9, 2018   Modified on May 9, 2018

-Business Standard The dilemma regarding reliability is usually the greatest around the release of advance estimates Analysts at the Reserve Bank of India (RBI) have questioned the numerous revisions in gross domestic product (GDP) data by the statistics office. RBI has said this confuses analysts about the economy. It suggested the Central Statistics Office (CSO) incorporate data on high frequency economic indicators such as commercial vehicles and international air passenger traffic. It should employ state-of-the-art methods such as 'nowcasting' to arrive at precise estimates of growth in their advance estimates. A new paper by the analysts examines deviations in economic growth between the first release (or advance estimates) and the final growth estimates, published by CSO. It found the advance estimates tended to underestimate gross value added (GVA) and GDP. The study titled, 'Examining Gross Domestic Product Data Revisions in India', cited examples. For example, it said, GDP grew 7.6 per cent in 2015-16 according to CSO's first advance estimate. It was changed to 7.9 per cent in the first revised estimate and to 8.2 per cent in the second revised estimate. “In view of multiple rounds of data revision, it may be confusing for data users to decide on the true state of the economy, and the real strength of growth momentum,” the study noted. The dilemma regarding reliability is usually the greatest around the release of advance estimates, generally understood to be tentative and liable to change with the arrival of subsequent datasets, it said. Please click here to read more.

Business Standard, 3 May, 2018, http://www.business-standard.com/article/economy-policy/multiple-revisions-of-official-gdp-data-confuses-analysts-says-rbi-118050300028_1.html

Tagged with: GDP estimates Gross Value Added (GVA) Reserve Bank of India (RBI) Central Statistics Office (CSO)

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