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Mospi may use GST data to calculate GDP figures
Business Standard
|September 14, 2024
In a bid to improve the calculation of gross domestic product (GDP), the Ministry of Statistics and Programme Implementation (Mospi) is expected to incorporate goods and services tax (GST) data as a new source once the ongoing revision of the national accounts' base year is completed, according to a senior official.
Until now, the Goods and Services Tax Network (GSTN) has been reluctant to share such data with Mospi, citing confidentiality concerns.
"When the base year is revised for national accounts, new data sources will be included, with monthly GST data being one of them. We will anonymise the data before its use. Introducing new data sources at this stage would create issues of comparability. An expert committee will determine the method and technique for its inclusion," the official stated.
In June 2024, the ministry constituted a 26-member expert advisory committee on National Accounts Statistics (ACNAS), chaired by economist Biswanath Golder, to oversee the base revision process, which is set to conclude by February 2026.
Dit verhaal komt uit de September 14, 2024-editie van Business Standard.
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