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An Advisory Committee on National Accounts Statistics, comprising representatives from government, RBI, academia and researchers, has been constituted for identification of new data sources.
India’s GDP growth in July-September 2024 declined to 5.4 per cent, which is a 7-quarter-low level.
The Ministry of Statistics & Programme Implementation on Monday said the government has decided to update the base year for compilation of gross domestic product (GDP) from 2011-12 to 2022-23.
This information was given by Rao Inderjit Singh, Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation, Minister of State (Independent Charge) of the Ministry of Planning and Minister of State in the Ministry of Culture, in a written reply in the Rajya Sabha on Monday.
“The government has decided to update the base year for compilation of Gross Domestic Product (GDP) from 2011-12 to 2022-23. An Advisory Committee on National Accounts Statistics (ACNAS) comprising of representatives from Central and State Government, Reserve Bank India, Academia and Researchers has been constituted for identification of new data sources and to advise on the methodology for compilation of National Accounts Statistics in the revised series,” the minister said.
Steps, such as constitution of ACNAS, standardisation of data structure to promote harmonised quality reporting across National Statistical System and use of administrative data are the steps taken by the government to improve the statistical system, he added.
India’s GDP growth in July-September 2024 declined to 5.4 per cent, which is a 7-quarter-low level.
