Need to revisit GDP computing: Experts

ECONOMISTS AND STATISTICIANS have expressed concern over massive revisions of GDP data, starting FY23, made by the statistics ministry on Friday.

- PRIYANSH VERMA

They see there is a need to re-look at the way estimates for GDP are computed, as high data revisions have serious implications for policy-making.

"Substantial revisions of past data make forecasting more challenging, but still the overall picture and analysis remains unchanged, which is that the economy is on a stable footing," noted Madan Sabnavis, chief economist, Bank of Baroda.

"From a policy perspective, we are already on the right path and need not have to change direction. The focus will continue to be on tackling the tariff issue which is paramount on the agenda," he added.