Govt urges all depts to use GSVA NSVA to calculate finance indicators

  • | Thursday | 9th January, 2020

Kolkata: The state government has requested all its departments to consult the state Planning & Statistics department to use gross state value added (GSVA)/net state value added (NSVA) estimates to calculate indicators on finance, education, health, agriculture or for any other purpose. The move comes after it was found that some departments have been using GSVA/NSVA figures in the process of calibrating indicators of their interest without consulting the inherent linkages and mode of revision of the GSVA/NSVA estimates. To maintain uniformity and to recognize the pattern of changes, GSVA/NSVA estimates are being revised even four times a year. For this purpose, quick provisional and advance estimates of GSDP/GSVA are prepared for taking informed decisions at the policy level. The technique of prediction is frequently applied on various indicators to arrive at the GSDP/GSVA estimates on different sectors of the economy.

Kolkata: The state government has requested all its departments to consult the state Planning & Statistics department to use gross state value added (GSVA)/net state value added (NSVA) estimates to calculate indicators on finance, education, health, agriculture or for any other purpose. The move comes after it was found that some departments have been using GSVA/NSVA figures in the process of calibrating indicators of their interest without consulting the inherent linkages and mode of revision of the GSVA/NSVA estimates. To maintain uniformity and to recognize the pattern of changes, GSVA/NSVA estimates are being revised even four times a year. Additional Chief Secretary (ACS) of the Finance department and Department of Planning and Statistics H K Dwivedi has written to ACS, Principal Secretary and secretaries of all other departments to follow a well-maintained coordinated system and take utmost care during the calculation of any indicators involving GSVA/NSVA estimates. "The estimates are released mainly to have an understanding of the development trajectory of the state economy. For this purpose, quick provisional and advance estimates of GSDP/GSVA are prepared for taking informed decisions at the policy level. "Finalising the estimates is a cumbersome and lengthy process that normally takes about three years from the release of Advance estimates," the letter read. It may be mentioned that Bureau of Applied Economics & Statistics (BAES) under the department of Planning and Statistics acts as state authority for preparing the estimates of gross state domestic product (GSDP) of the state. There are several challenges but such a complex service is carried out in conformity with the methodologies under System of National Accounts (SNA). The technique of prediction is frequently applied on various indicators to arrive at the GSDP/GSVA estimates on different sectors of the economy.

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