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LATEST NEWS UPDATES | Recalculating GDP figures isn't wrong, it's strange. Let CSO explain this -Ashok V Desai

Recalculating GDP figures isn't wrong, it's strange. Let CSO explain this -Ashok V Desai

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published Published on Dec 2, 2018   modified Modified on Dec 2, 2018
-The Economic Times

The NDA government has been a pioneer a number of times. Demonetisation and the goods and services tax (GST) are only its bestknown antics. Now it has taken the lead in politicising national income statistics.

Normally, the Central Statistical Office (CSO) issues a press note every quarter, giving figures of national income and its components for the previous quarter. The figures do not make headlines. The common man has better things to get excited about. Growth has got stuck around 6-7% in recent years. It varies so little that it has become a bore. 6-7% growth implies an increase in the average man’s productivity and income of 4-5%. The common man must wonder where this lucky ‘average man’ is to be found.

Governing castes have their rituals. The growth rate, the common man would think, is one of them. The Planning Commission found it difficult enough to get into the news, however much its deputy chairman screamed. NITI Aayog is even more obscure. Its vice-chairman had to do something even more odd to make headlines.

And he succeeded beyond his worst expectations. Why? For three reasons. First, news about GDP statistics is issued in press notes or reports by the CSO. This time, it was releasedin a PowerPoint presentation, which is far less detailed and more sensational than a CSO release.

The presentation was made in a press conference given jointly by NITI Aayog vice-chairman Rajiv Kumar, and Pravin Srivastava, deputy director general of CSO, in Pahle India Foundation, a non-government organisation Kumar had founded in the days before he joined the present government. GDP figures are entirely in the province of the CSO. It has never before associated a minister with their release.

Second, they are always initially released in a detailed, boring CSO report. This time there has been none. The last CSO GDP report, National Accounts Statistics 2018, was released in September. It does not give the figures on which Kumar’s presentation is based.

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The Economic Times, 1 December, 2018, https://economictimes.indiatimes.com/news/economy/indicators/view-recalculating-gdp-figures-isnt-wrong-its-strange-let-cso-explain-this/articleshow/66888226.cms?u


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