ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Implications for the New GDP Series

Size and Structure of India's Private Corporate Sector

In the new National Accounts Statistics, the absolute size of the gross domestic product for 2011-12 is smaller by 2.3% compared to the old series; but the private corporate sector's size is larger by 43%; and, its GDP share higher by 11 percentage points. This is true for the next two years as well. The new estimates are more realistic, claims the Central Statistics Office, as they better represent the contribution of nearly a million "active companies." Critics are unconvinced, however. Seeking to narrow the differences between the competing views, this paper compares the official figures with an alternative estimate for the private corporate sector to gauge the magnitude of (the claimed) improvement, or (the putative) overestimation.

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