District economy data: Government releases uniform framework for district GDP projections with 2022-23 base year & more related News Here

District economy data: Government releases uniform framework for district GDP projections with 2022-23 base year

 & more related News Here

District economy data: Government releases uniform framework for district GDP projections with 2022-23 base year

The statistics ministry on Wednesday released a uniform framework for compiling district-level economic output projections with a revised base year of 2022-23, aimed at improving consistency and comparability of economic data across states and union territories, PTI reported.The Ministry of Statistics and Program Implementation (MoSPI) said the final guidelines for compilation of District Domestic Product (DDP) estimates have been issued after incorporating feedback received from states, union territories, educational institutions, researchers and other stakeholders.The National Statistical Office (NSO) had placed the draft guidelines in the public domain on April 7 for consultation.According to the ministry, the guidelines provide a comprehensive and standardized framework for preparing district-level economic estimates under the new base year series.

Focus on similar district-level estimates

The guidelines cover concepts, data sources, estimation procedures and methodologies for compiling Gross District Domestic Product (GDDP), Net District Domestic Product (NDDP) and Per Capita Income at the district level.It primarily advocates a bottom-up approach to prepare DDP estimates wherever district-level data is available.In areas where such information is not available, the framework recommends top-down estimation methods and appropriate allocation indicators to obtain district-level estimates in a consistent manner.The ministry said it aims to ensure consistency, comparability and methodological standardization in district-level economic data across the country.

26 states, union territories already compiling DDP

Currently, 26 states and union territories compile District Domestic Product Estimates.MoSPI said it is continuing efforts to bring all states and union territories under a common framework for preparing DDP estimates.The ministry said the new guidelines are expected to harmonize estimation practices across states and strengthen the institutional framework for district-level economic data.

promote planning and policy

According to the ministry, reliable and comparable district-level economic projections will support decentralized planning, evidence-based policy making, regional development analysis and informed decision-making at the local level.The guidelines are also expected to help states and union territories strengthen their statistical systems and improve their capacity to produce robust district-level economic projections.

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