(a) whether the Government has noticed that some international financial agencies have raised their concern over the calculation of GDP in India;
(b) if so, the details and the response of the Government in this regard;
(c) whether the Government has noticed that a report of International Labour Organisation has observed that 40 crores of Indians are being pushed to below poverty line; and
(d) if so, the details thereof and the steps taken by the Government in this regard?
MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION AND MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF PLANNING (RAO INDERJIT SINGH)
(a) and (b): 2011-12 series is compliant with the latest international standard in the compilation of National Accounts viz. System of National Accounts (SNA) 2008, developed by the United Nations. However, from time to time, independent economists, research agencies, international financial organizations and other experts bring out their own assessment of the economy. Government takes note of the concerns expressed by economists and data users, for appropriate policy actions.
The Ministry released a publication on changes in methodology and datasets in the new series of national accounts, which is available on the website of the Ministry. Frequently asked questions on new series along with replies have also been placed in the public domain.
(c): It is mentioned in the report of International Labour Organisation (ILO) namely ‘ILO Monitor: COVID-19 and the world of work, Second edition Updated estimates and analysis’ dated 07 April 2020, that “in India, with a share of almost 90 per cent of people working in the informal economy, about 400 million workers in the informal economy are at risk of falling deeper into poverty during the crisis”.
(d): The Government has announced a special economic and comprehensive package of Rs. 20 lakh crores - equivalent to 10 per cent of India’s GDP – to combat the impact of the COVID-19 pandemic in India. Apart from various measures to mitigate the negative impact of COVID-19 on the economy namely, relief measures for Micro, Small and Medium Enterprises (MSMEs), structural reforms announced as part of the Atmanirbhar Package, postponing tax-filing and other compliance deadlines, the Government has implemented relief measures for: households in-kind (food, cooking gas) and cash transfers to senior citizens, widows, disabled, women Jan Dhan Account holders, farmers; insurance coverage for workers in the healthcare sector; wage increase for Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) workers; support for building and construction workers; collateral free loans to self-help groups; reduction in EPF contributions; and employment provision for migrant workers (Pradhan Mantri Garib Kalyan Rojgar Abhiyaan).
*****