National accounts: Current Affairs, GK & News - 2020-2021
CSO proposes to replace GDP base year
Published: November 13, 2019
The Central Statistics Office (CSO) proposes to replace the gross domestic product (GDP) series of 2011-12 base year with a new set of National Accounts using 2017-18 as the base-year. According to the chief statistician, this will be done as soon as the new consumer expenditure survey and the Annual Survey of Industries (ASI) results become ..
Why the Economic Slowdown is taking place?
Published: September 3, 2019
The release of the first-quarter data for the financial year 2020 came as a rude surprise to economists and policy planners in the country. Due to a fall in private consumption growth and investment rate, GDP growth has fallen to barely 5% while Nominal GDP growth has reduced to 8%. This fall in GDP has ..
Debate over India’s GDP Numbers
Published: August 13, 2019
The Central Statistics Office (CSO) introduced a new series of National Account Statistics in 2015. The important changes made in the new series included the change in base year from 2004-05 to 2011-12, employed a new methodology to estimate India’s gross domestic product (GDP) and used new data sets to arrive at the GDP. Why ..
Topics: Economic growth • Economy • Economy of India • GDP deflator • Gross domestic product • Index numbers • India GDP rebasing • Macroeconomics • National accounts • New GDP Methodology • Was Indian GDP Over-Estimated
United States designates China as currency manipulator
Published: August 6, 2019
The United States has designated China a “currency manipulator”, following the devaluation of the Yuan. The move could escalate the tense trade relations between the two nations. The US action came after China allowed its yuan to weaken past the key seven-per-dollar level for the first time in more than a decade. This decision will ..
Topics: Balance of trade • Currency • currency manipulator • Devaluation • Economy • Foreign exchange market • International macroeconomics • Macroeconomics • Monetary hegemony • Money • National accounts
United Nations Conference on Trade and Development (UNCTAD) has expected India’s economy to grow 7.0% in calendar year 2018 compared with 6.2% in 2017
Published: October 1, 2018
United Nations Conference on Trade and Development projects India’s economy to grow 7.0% in calendar year 2018 As per the report “Trade and Development”, the effects of demonetization are still evident in private consumption trends within the economy. It also emphasised that countries like India and Thailand, which have been most favoured by foreign investors ..