New Delhi: The statistics and programme implementation ministry on Tuesday released draft guidelines for the compilation of district domestic product (DDP) and state domestic product (SDP), aimed at standardising methodologies and improving comparability of subnational economic estimates.
The key focus areas in SDP include identification and integration of new data sources such as administrative records, sector-specific databases and survey inputs to improve coverage and reliability, and refinement of estimation techniques to better capture emerging sectors, particularly services and the unincorporated segment.
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Further, it comprises ensuring methodological consistency between national and regional accounts for alignment with national aggregates, enhancing regional distribution methods for allocating state-level estimates to districts and standardising compilation practices across states for uniformity, transparency and comparability.
The ministry revised the GDP base year to 2022-23 from 2011-12 earlier this year. "In alignment with the GDP at National level, the base year for GSDP will also be revised by States/UTs to ensure more accurate, consistent and comparable estimates of the States' economic performance over time," it said in a statement.
These guidelines provide a structured framework for states and union territories to compile district-level estimates using "standardized concepts, definitions, data sources and estimation procedures, thereby ensuring consistency, reliability and comparability across districts and states", it said.
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Under the Advisory Committee on National Accounts Statistics, a sub-committee on regional accounts has been constituted with Ravindra H. Dholakia, former professor at IIM Ahmedabad, as chairman, along with members from state governments, research institutions, the Reserve Bank of India, academia and NITI Aayog to review concepts, methodology and new data sources for the compilation of SDP and DDP.
The ministry has invited feedback on the guidelines from stakeholders by April 27.
The key focus areas in SDP include identification and integration of new data sources such as administrative records, sector-specific databases and survey inputs to improve coverage and reliability, and refinement of estimation techniques to better capture emerging sectors, particularly services and the unincorporated segment.
Also Read: Fitch unit cuts India's economic growth targets amid Iran war
Further, it comprises ensuring methodological consistency between national and regional accounts for alignment with national aggregates, enhancing regional distribution methods for allocating state-level estimates to districts and standardising compilation practices across states for uniformity, transparency and comparability.
The ministry revised the GDP base year to 2022-23 from 2011-12 earlier this year. "In alignment with the GDP at National level, the base year for GSDP will also be revised by States/UTs to ensure more accurate, consistent and comparable estimates of the States' economic performance over time," it said in a statement.
These guidelines provide a structured framework for states and union territories to compile district-level estimates using "standardized concepts, definitions, data sources and estimation procedures, thereby ensuring consistency, reliability and comparability across districts and states", it said.
Also Read: Downward revision of global GDP imminent amid West Asia crisis; inflation is likely to go up
Under the Advisory Committee on National Accounts Statistics, a sub-committee on regional accounts has been constituted with Ravindra H. Dholakia, former professor at IIM Ahmedabad, as chairman, along with members from state governments, research institutions, the Reserve Bank of India, academia and NITI Aayog to review concepts, methodology and new data sources for the compilation of SDP and DDP.
The ministry has invited feedback on the guidelines from stakeholders by April 27.
