The present national accounting and analytical framework misses out on many key dimensions of a complex economy
The new series of Gross Domestic Product (GDP) figures with 2011-12 as base, released in 2015, has not gone well with analysts; the withholding of employment-unemployment data for some time and consumer expenditure data, which is not released, added to this unease. Bringing the National Sample Survey Office (NSSO) under the fold of National Statistics Office, altering its long-standing arrangement under the Governing Council and then National Statistical Commission, triggered suspicion. As official statistics is a public good, giving information about the state of the economy and success of governance, it needs to be independent to be impartial.
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