Govt trying to lower discrepancies in GDP data, says Chief Statistician
Admitting to “some discrepancies” in the GDP data, which soared to Rs 2.14 lakh crore in 2015-16 or up to 1.9 per cent, Chief Statistician TCA Anant on Friday said the government is making efforts to minimise them. Some discrepancies in national accounts will always be there because of delay in reporting of information by various agencies including state governments but the effort is to report data as accurately as possible, he said when asked about the reasons of high levels of “discrepancies” in the GDP numbers for 2015-16. Anant said in an interview that the government is making efforts to minimise discrepancies in computation of the national income or GDP data by relying more on data available under e-governance programmes and corporate accounts.
Discrepancies in the statistical GDP data refer to the difference in national income under production method and expenditure method. While Anant did not give any numbers, the recently released GDP figures showed that the discrepancies in 2015-16 stood at as high Rs 2.15 lakh crore, as against (-)Rs 35,284 crore in the previous fiscal. In 2015-16 data of national income, the rates of discrepancies at current and constant (2011-12) prices are estimated at 0.1 per cent and 1.9 per cent respectively of the GDP. It stood at 0.4 per cent and (-)0.3 per cent respectively in 2014-15. The data released earlier this week pegged the real GDP or GDP at constant prices for the fiscal 2015-16 at Rs 113.50 lakh crore, showing a growth rate of 7.6 per cent -- the highest among major economies of the world.