NSO Introduces Revised GSVA Framework for Enhanced Economic Accuracy
NSO seeks to onboard all states, UTs in revised GSVA base-year series
Business Standard
Image: Business Standard
The National Statistics Office (NSO) of India has announced a revised Gross State Value Added (GSVA) framework, using 2022-23 as the base year. This initiative aims to improve the accuracy and comparability of state-level economic estimates across all states and Union Territories (UTs).
- 01The NSO has introduced a new GSVA framework with 2022-23 as the base year.
- 02The initiative aims to enhance the accuracy of state-level economic estimates.
- 03The revised framework will improve comparability among states and UTs.
- 04It aligns economic estimates with the current structure of the economy.
- 05Uniform guidelines have been notified for all states and UTs.
Advertisement
In-Article Ad
The National Statistics Office (NSO) of India has unveiled a revised framework for Gross State Value Added (GSVA), establishing 2022-23 as the new base year. This revision is designed to enhance the accuracy, comparability, and coverage of economic estimates at the state level. By implementing uniform guidelines for all states and Union Territories (UTs), the NSO aims to align these estimates with the current economic structure, ensuring that state-level data reflects the latest economic conditions. This initiative is expected to provide a clearer picture of economic performance across different regions, facilitating better policy-making and resource allocation.
Advertisement
In-Article Ad
This revised framework will provide more accurate economic data, which can lead to better-informed decisions for state governments and policymakers.
Advertisement
In-Article Ad
Reader Poll
Do you think the revised GSVA framework will improve economic planning at the state level?
Connecting to poll...
More about National Statistics Office
Read the original article
Visit the source for the complete story.