FinMin counters NSSO's on database issues

by IANS |

New Delhi  The Finance Ministry on Friday dismissed any aspersions over the government estimated GDP figures after another government agency NSSO raised questions over the " dubious" database used to arrive at the growth numbers in certain quarters.

In a report published on its website, the government's National Sample Survey Office (NSSO) had said 39 per cent of the companies included in a key database used to estimate India's economy activity and GDP growth were closed, untraceable or mis-classified.

The corporate database belonged to another government department-- Ministry of Corporate Affairs -- online database of corporates --MCA21. The findings were unusual criticism by one government agency of another at a time when international confidence in the accuracy and reliability of India's publicly reported GDP data have been raised.

NSSO released the Technical Report of Services Sector Enterprises in India in which it had utilized a sample of 35,456 enterprises taken from the database of Ministry of Corporate Affairs (MCA) for the out-of-survey units.

The Finance Ministry said the (NSSO) Report has stated that 38.7 per cent of the sample of 35,456 enterprises comprised out-of-survey units and added that "some sections of the media have misinterpreted these out-of-survey enterprises (as classified for the purposes of surveying the services sector) to be enterprises that do not exist in the economy.

On the basis of this interpretation, the suggestion has emerged that by not removing out-of-survey enterprises from the MCA database, Central Statistics Office (CSO) over-estimates the Gross Domestic Product of the country.

Latest News
IPL 2024: 'Sai Kishore did not expect I will go after him off the first ball', says CSK's Shivam Dube Fri, Mar 29, 2024, 03:55 PM
Talks with Ukrainian FM focused on conflict with Russia, says EAM Jaishankar Fri, Mar 29, 2024, 03:49 PM
Started my career on shop floor of auto plant: Anand Mahindra to Elon Musk Fri, Mar 29, 2024, 03:42 PM
Chinese military offers help to Pakistan to curb terrorism Fri, Mar 29, 2024, 03:39 PM
Kangana Ranaut holds roadshow in Mandi, responds to Supriya Shrinate's 'bhao' jibe Fri, Mar 29, 2024, 03:36 PM
CPI tries to revive itself by launching ex-IPS officer in UP's Faizabad Fri, Mar 29, 2024, 03:29 PM
Mandya in Karnataka to witness mega clash between Kumaraswamy and Star Chandru Fri, Mar 29, 2024, 03:26 PM
I-T seizes unaccounted cash from Kolkata bizman's office Fri, Mar 29, 2024, 03:24 PM
Byju's EGM on rights issue ends sans objections, dissenting investors skip meet Fri, Mar 29, 2024, 03:12 PM
Anti-abuse provisions should not be used in receipt of capital from credible investors: Experts Fri, Mar 29, 2024, 03:09 PM
UP: Kamaal R Khan's brother to contest from Saharanpur on BSP ticket Fri, Mar 29, 2024, 02:59 PM
Pakistan: Alarm bells ring as judicial bodies gear up to protect their judges against 'targeted assault' Fri, Mar 29, 2024, 02:50 PM
Judicial probe ordered in Mukhtar Ansari's death Fri, Mar 29, 2024, 02:46 PM
Stories come knocking, characters start whispering to me: Filmmaker Rima Das Fri, Mar 29, 2024, 02:45 PM
Magisterial probe ordered into Mukhtar Ansari's death Fri, Mar 29, 2024, 12:52 PM