Back series GDP to be released after consultations with expert panel: Govthttps://indianexpress.com/article/business/business-others/back-series-gdp-to-be-released-after-consultations-with-expert-panel-govt-5213542/

Back series GDP to be released after consultations with expert panel: Govt

The ministry is also planning to launch new surveys including Annual Survey of Service Sector Enterprises, the Annual Survey of Unincorporated Sector Enterprises, the Time Use Survey and the Economic Census, it said.

The Ministry of Statistics and Programme Implementation (MoSPI) on Monday said that back series of the gross domestic product (GDP) based on new base year of 2011-12 will be finalised and released after due consultations with an expert committee.

“The 2011-12 GDP series incorporates data emanating from the Ministry of Corporate Affairs (MCA) and this data set has been evolving over the years. For back casting the series still 2004-05, various alternatives are being worked out under the guidance of the Advisory Committee on National Accounts and the back series will be finalised and released after due consultations with this expert committee,” a ministry statement said.

The ministry has decided to revise the base year of the macroeconomic indicators and aggregates to 2017-18 and is working with other ministries and state governments towards aligning the data systems towards the proposed new base year, it said.

The ministry is also planning to launch new surveys including Annual Survey of Service Sector Enterprises, the Annual Survey of Unincorporated Sector Enterprises, the Time Use Survey and the Economic Census, it said.

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On the various employment released datasets, the ministry said the recommendations of the Task Force on Improving Employment Data are being gradually implemented. Additionally, a committee under former Chief Statistician of India TCA Anant is examining various approaches to reduce redundancy and avoid duplication in estimation of employment through establishment approach.