Statistics ministry proposes common framework to calculate state GDP

The statistics ministry has proposed a common framework for calculating state GDP, which would use an expenditure approach based on the revised 2022-23 base year. This framework aims to fill a gap in current estimates, as no state compiles data on private final consumption expenditure. The proposed methods include using administrative data to allocate estimates across states and union territories, which could lead to more accurate and comparable state GDP figures. This could have significant implications for economic planning and development at the state level.

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The statistics ministry proposed a common framework for estimating state gross domestic product. This framework aims to provide a standardized approach to calculating state GDP, which could lead to more accurate and comparable data.

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