The Ministry of Statistics and Programme Implementation has released the publication Sources and Methods for Compilation of National Accounts Statistics, detailing the methodology behind the new series of National Accounts with base year 2022-23.
The Ministry said that the publication provides a consolidated account of the concepts, definitions, data sources, methodologies and compilation practices exhaustively adopted in the New Series and is being brought out in a record time after seven months of the release of the new series.
The New Series, released in February this year, replaced the earlier 2011-12 base year series and was updated in August to incorporate the latest Producer Price Index and Index of Industrial Production data. The Ministry said the publication incorporates recommendations of expert committees and consultations with academics, policymakers and data users.
It includes improved methodologies and wider use of corporate filings, GST and other administrative data for estimating GDP, consumption, savings and other key economic indicators. The publication is available on the Ministry’s official website.
