Draft Guidelines Released for GSDP Estimates by Expenditure Approach, Base Year 2022-23
The Ministry of Statistics and Programme Implementation (MoSPI) of India has released a draft guideline for compiling Gross State Domestic Product (GSDP) estimates using the expenditure approach, with a base year of 2022-23. This guideline aims to establish a uniform framework for GSDP estimation across States and Union Territories, promoting consistency and methodological standardization. It details the concepts, data sources, and estimation procedures for major expenditure components, including Private Final Consumption Expenditure and Government Final Consumption Expenditure. Currently, while some regions compile estimates for certain components, none are producing estimates for Private Final Consumption Expenditure, highlighting the need for this comprehensive framework.
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