A change in base year for computing national accounts pushed up the economic growth rate for 2013-14 to 6.9 per cent. Earlier the government estimate growth rate was 4.7 percent on the basis of old series. Releasing the data Secretary of Statistics and programme implementation T.C.A. Anant said that the economic growth rate for 2012-13 has been revised upwards to 5.1 per cent, compared with 4.5 per cent estimated earlier. These changes follow a revision in the base for calculating national accounts to 2011-12 from 2004-05. The new measurement of gross domestic product, GDP includes under-represented and informal economic sectors as well as items such as smart phones and LED television sets.
News On AIR | January 30, 2015 8:30 PM
GDP revised upward to 6.9 % with change in base year