Govt to revise GDP base year to 2011-2012
10/09/2014 10:55
In order to capture a clear picture of the economy, the government has initiated the process to change the base year to 2011-12 for computing the country's gross domestic product (GDP), said the media report. At present, the base year for calculating the GDP is 2004-05, which had been changed from 1993-94 in 2006, it added. "We have undertaken the process of revising base year for calculating the GDP. With the passage of time new products are manufactured and new data is added," Chief Statistician T C A Anant told media. However, he did not commit on the timeframe for changing the base year for computing GDP.
10/09/2014 10:55
In order to capture a clear picture of the economy, the government has initiated the process to change the base year to 2011-12 for computing the country's gross domestic product (GDP), said the media report. At present, the base year for calculating the GDP is 2004-05, which had been changed from 1993-94 in 2006, it added. "We have undertaken the process of revising base year for calculating the GDP. With the passage of time new products are manufactured and new data is added," Chief Statistician T C A Anant told media. However, he did not commit on the timeframe for changing the base year for computing GDP.
