India Plans GDP Base Year Revision Using Historical Data from ASI
What happened
Saurabh Garg, Secretary in the Ministry of Statistics and Programme Implementation, stated that the government plans to release back-series for years prior to 2022-23 by the end of the year. The revision involved using double deflation and producer/input prices, utilizing historical time-series data from ASI spanning 2011-12 to 2023-24.
Why it matters
The revision of national accounts, which incorporates methods like double deflation and output producer price indices, is a core function of the Ministry of Statistics. This process aims to improve national economic metrics for India.
The Secretary is defending national economic data integrity in India.
Who's involved
- ASIProvided historical time-series data used for the GDP revision.
- Saurabh GargSecretary in the Ministry of Statistics and Programme Implementation, involved in the GDP base year revision planning.
- IndiaThe nation undergoing the GDP base year revision.
- Ministry of StatisticsThe government body responsible for the GDP base year revision.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ASISpeculative
The validation of historical time-series data for national GDP revision could increase the demand for its data services.
- Ministry of StatisticsSpeculative
The revision process could influence the government's future investment decisions based on updated economic metrics.
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The entities involved
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ASI
Japanese enterprise
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Saurabh Garg
researcher ORCID ID = 0000-0001-8719-284X
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