Panel set up for modifying computation of economic data

The government has set up a 13-member committee to modify rules for computation of economic data at states and districts level.

The Committee for Sub-National Accounts will be headed by Ravindra H Dholakia, a retired professor of IIM Ahmedabad.

This is being done ahead of the government's plan to revise the base year for National Accounts or GDP calculation.

The Ministry of Statistics and Programme Implementation (MOSPI) will change the base year to 2017-18 for the calculation of GDP and IIP numbers from the current 2011-12.

Change in a base year to calculate GDP is done in line with global exercise to capture economic information accurately.

The panel has been asked to "review the concepts, definitions, classifications, data conventions, data sources and data requirements for preparation of State Domestic Product and District Domestic Product and to lay down revised guidelines".

It will submit its report in one year's time.