-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...
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As institutions change, so does data credibility
-Livemint.com An economy’s resilience and sustainability is best measured through its institutional strength The official back data on India’s gross domestic product (GDP), released by the Central Statistical Office (CSO) on Wednesday, runs the risk of denting the market’s trust and conviction in official data released by government agencies. The new data release contradicts the earlier findings of a committee set up by National Statistical Commission to develop a methodology for deriving...
More »RBI data counters RBI claim: Credit to small firms shrinks -Sandeep Singh
-The Indian Express On October 30, at the meeting of the Financial Stability and Development Council chaired by Jaitley and attended by Urjit Patel among others, the central bank is learnt to have downplayed the issue of liquidity crunch. While the Reserve Bank of India said two weeks ago that there is no sign of a liquidity crunch, its own latest data shows that banks’ credit outstanding to the Micro, Small and...
More »Why factory output figures are suspect -R Nagaraj
-The Hindu Business Line The MCA database, which underpins the jump in factory GDP, is unconvincing. The ASI method was set aside for wrong reasons In early 2015, the Central Statistical Office (CSO) introduced a new series of National Accounts Statistics (NAS) with 2011-12 as the base year, replacing the earlier series with the base year 2004-05. It is the CSO's routine job to make such revisions, roughly once in a decade,...
More »Does India's New Series GDP Data Overestimate Manufacturing Output?
-TheWire.in The new series GDP data has been mostly replaced with corporate financial data for estimating manufacturing value-added, resulting in manufacturing assuming a higher share in India’s GDP and growing at a faster rate compared to the older series. New Delhi: Does the new method by which India calculates GDP (gross domestic product) data overestimate manufacturing output? This apprehension has been flagged by a key member of the Reserve Bank of India’s...
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