NSO flags discrepancy of Rs 2.59 trn in FY24 GDP
Discrepancies in the statistical GDP data refer to the difference in national income under production method and expenditure method
image for illustrative purpose
Govt will make all efforts to reduce discrepancies. There are three methods of computation of national income namely, production, expenditure and income
New Delhi: Discrepancies in computation of advance estimates of India’s Gross Domestic Product (GDP) for 2023-24 stood at Rs2.59 lakh crore as against Rs3.80 lakh crore in 2022-23 and Rs4.47 lakh crore in 2021-22, according to National Statistical Office (NSO).On Friday, the NSO released its first advance estimates of national accounts, which showed that the Gross Domestic Product or Indian economy will grow at 7.3 per cent in 2023-24, slightly higher than 7.2 per cent in 2022-23.
According to data, there were discrepancies of Rs2.59 lakh crore as against Rs3.80 lakh crore in 2022-23 and Rs4.47 lakh crore in 2021-22. Discrepancies in the statistical GDP data refer to the difference in national income under production method and expenditure method.
According to experts, there will always be some discrepancies in national accounts because of delay in reporting of information by various agencies including state governments. About the high level of discrepancies in the national accounts data for current fiscal, experts are of the view that discrepancies are shown to report data as accurately as possible.
