In case of factory output, the NSO regularly sensitizes source agencies to engage with production units regarding timely submission of data. If the initial response rate by the production units is good, the magnitude of subsequent revisions reduces significantly.
The move comes after numerous controversies over India’s data with market watchers often describing the numbers as inadequate or even confusing due to sharp and unexpected revisions.
Jeremy Siegel suggests that the US economy is headed for a recession, with negative job growth predicted for the next nine months and an increase in the unemployment rate to 4.6 percent
The Organisation of Economic Cooperation and Development (OECD) has supported India‘s demonetisation drive, asserting that immediate impact of the move on Indian economy will be transient.
A government panel, set up to review the working of FRBM Act, is looking into GDP estimates along with revenue numbers and is expected to submit its report soon.
Cumulative growth in Apr-Jan FY14 was nil (0 percent) as against positive growth of 1 percent in the corresponding period of the previous year. "To reach of growth rate of - 0.2 percent for the full year as per the GDP estimates, growth has to average 1.1 percent in the next two months", says CARE Ratings.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com gives his views on the market's performance. The Nifty today ended trade at 5938 down 20 points.
Chief Statistician TCA Anant said had the GDP estimates been calculated on the 7.4% (before it was revised to 8% resulting in higher base) one would find out that the growth rate would have been over 9% for 2010-11.