My comments in the Hindu Business line on the topic
Jaitley defends back series data; says CSO a credible organisation
The Data gathered from statistical organisations is only based upon the the products and services of our country in real terms. It is questionable on many accounts the havoc caused on natural calamities from our country resources. The services rendered by our farmers for cultivating in the lands is minimised with various agencies. The middlemen is collecting from the farmers and fixing the agricultural produces along with their rate. The tussle between the two political parties for valuing the GDP on their time series is more ridiculous with assessing in real terms. As rightly pointed out by Diane Coyle in her GDP book, ‘it falls short in measuring intangle benefits .,: ‘ The charcter of the economy is changing the way we measure on GDP will have to change too .,’ The new products and services, the increasing share of advanced economies made up of services and intangibles including on line services and measuring depletion of natural resources. Let us wait for the correct valuations.