Why CSO’s lower GDP estimate for 2012-13 will now help Chidu Just about a year back, the government’s economic managers came down like a tonne of bricks on the Central Statistics Office (CSO) for allegedly projecting a lower growth figure. The CSO, in its advance estimates of gross domestic product (GDP) for 2012-13 released on 7 February 2013, had pegged growth at 5 percent. This was lower than several other estimates of growth, including that of the Reserve Bank of India, which expected a 5.5 percent growth. The finance ministry was understandably upset – it had been predicting a 5.7-5.9 percent growth - and made no secret of it. “These are only advance estimates,” it scoffed in a press release issued that very day. The CSO’s projection, it argued, was based on an extrapolation of numbers till November 2012 and that there had been several positive signs after that. Planning Commission Deputy Chairman Montek Singh Ahluwalia also jumped into the fray, saying he was not certain if the CSO had done its projections right. Read more at: firstpost/economy/why-csos-lower-gdp-estimate-for-2012-13-will-now-help-chidu-1369987.html?utm_source=ref_article
Posted on: Sun, 02 Feb 2014 07:18:37 +0000
Trending Topics
Recently Viewed Topics
© 2015