The NITI Aayog has sought more time to finalise the recalculated back-series Gross Domestic Product (GDP) growth estimates. The NITI Aayog was expected to release its revised estimates of GDP growth from 2004–2005 to 2011-2012 on Monday.
The decision to seek more time and information before finalising the recalculated GDP growth estimate was taken at a roundtable discussion held under Rajiv Kumar, Vice-Chairman, NITI Aayog. A press statement said that representatives from the Ministry of Statistics and Programme Implementation (MoSPI) and several leading experts discussed the methodology for estimating back-series of GDP.
“During the ensuing discussion, experts sought analytical information, which is being worked out. It was, therefore decided to have a follow-up roundtable discussion with experts shortly,” Anna Roy, Adviser (Data Management & Analysis) at NITI Aayog, said.
In January 2015, the Centre decided to rework the methodology adopted for calculating GDP growth. But the government was caught in a tight spot after it was revealed that there were much higher levels of growth than earlier estimated during the previous government’s regime if the revised methodology was used.