Question : GDP Calculation Methodology

(a) whether the Government has over stated the GDP figures for the period from 2011-12 to 2016-17 as per the views expressed by some experts;

(b) if so, whether GDP rate has been over-estimated by about 2.5 percentage points per year post 2011;

(c) if so, the details and the reaction of the Government thereto;

(d) the real GDP figures for the period ranging from 2011-12 to 2016-17 and the figures as stated by the experts and the details of the rise and fall experienced by various sectors in the country during the said period; and

(e) whether the Government proposes to revisit the methodology for GDP estimation by an independent task force comprising national and international experts and if so, the details thereof?

Answer given by the minister

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) to (e): The methodology of Gross Domestic Product (GDP) estimation followed by this Ministry is in line with the System of National Account (SNA) 2008, the international standard in compilation of National Accounts developed by the United Nations. The methodology and the data sources are reviewed by experts from academia, various stakeholders and expert committee like Advisory Committee on National Accounts Statistics (ACNAS), comprising of members from Reserve Bank of India (RBI), National Statistical Commission (NSC), Ministry of Finance, State Governments, academia etc. The GDP estimates produced by this Ministry is an accurate representation of the economy''s growth based on the data and methodology adopted.

GDP and Sector-wise GVA at Constant (2011-12) prices for 2011-12 to 2016-17 and corresponding Growth rates are available on the website of this Ministry and the relevant extracts are at Annexure.

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