EAC to PM releases detailed analysis on robustness of India's GDP estimation methodology

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The Economic Advisory Council to the Prime Minister today released a detailed note titled GDP estimation in India- Perspectives and Facts.

The note provides a clear rationale for India’s switch to an improved GDP estimation methodology in January 2015. The new methodology that uses 2011-12 as the base year includes two major improvements.

One is the incorporation of MCA21 database and other is the incorporation of the Recommendations of System of National Accounts, SNA 2008.

This change was in line with other countries that have changed their methodologies in line with SNA 2008 and revised their respective GDP figures. On average, real GDP estimates saw an increase of 0.7 per cent among OECD countries.

The note can be accessed at http://eacpm.gov.in/reports-papers/eac-reports-papers/. (AIR NEWS)