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The National Statistical Commission has not recommended any major change in the basic methodology for the compilation of Gross Domestic Product (GDP). However, its recommendations relating to improvement in the quality of data in various sectors of the economy for the estimation of GDP, were considered by the Advisory Committee on National Accounts. After its deliberations, the Ministry of Statistics and Programme Implementation took up some exploratory studies for the improvement of existing as well as new datasets, in a bid to project improved and accurate GDP figures.
But, as a routine exercise, the revision of base year of National Accounts Statistics (NAS) from 1993-94 to 1999-2000 is underway. The Minister for Statistics and Programme Implementation, Shri Oscar Fernandes also told Parliament that the revised series on new Base using the recent datasets is planned to be, put into effect by the end of January next year. The Minister said that, as no great change has been made in the basic methodology adopted in the estimation of GDP, no major differences in estimates in the revised series vis-a-vis present series, are anticipated.
Meanwhile, the proposed National Statistical Commission will comprise of eminent statisticians and social scientists as part-time Chairperson and Members. Shri Oscar Fernandes also said that the Commission will serve as the Nodal and empowered body for all core statistical activities in the country. It will identify areas of national importance from where, core data could emerge and evolve policies and priorities relating to modernisation of the statistical system and ensure quality and integrity of statistical outputs.
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