Govt forms panel to upgrade norms for computation of economic data

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The government has set up a 13-member committee to upgrade the norms for computation of economic data at states and districts level in the backdrop of plans to revise the base year for National Accounts or GDP calculation. The Ministry of Statistics and Programme Implementation will change the base year to 2017-18 for the calculation of the GDP and IIP numbers from the current 2011-12 with an aim to capture changes in the economy.

The Committee for Sub-National Accounts will be headed by Ravindra H Dholakia, a retired professor of IIM Ahmedabad. The panel has been asked to review the concepts, definitions, classifications, data conventions, data sources and data requirements for preparation of State Domestic Product (SDP) and District Domestic Product (DDP) and to lay down revised guidelines. It will also suggest measures for improving SDP and DDP in the country taking into consideration availability of data and requirements of the Centre and states/union territories.

The notification said that the panel would submit its report within one year and may also submit interim reports, as necessary.

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