Ministry of Statistics and Programme Implementation Current Affairs

India Loses its Fast Growing Economy Tag to China

As per the data released by the Ministry of Statistics, India registered 7.1% growth in the financial year 2016-17, which is slower than the 8% registered in 2015-16. In the fourth quarter of 2016-17, India registered a growth of GDP growth of 6.1% compared with China’s 6.9% in the same period. Hence, it has lost its fastest-growing major economy tag in the fourth quarter of 2016-17. 

A decline is also visible in the Gross value added (GVA) growth. It was 6.6% for 2016-17 and 5.6% in the Q4 of 2016-17, compared with 7.9% in 2015-16 and 8.7% in Q4 of that year. The GDP growth rate has registered a slightly higher growth because of proportionate increase in indirect tax net of subsidies.

While GDP gives a picture of whole economy, GVA gives pictures at enterprises, government and households levels. In other words, GDP is GVA of all enterprises, government and households. Further, Gross Value Added (GVA) broadly reflects the supply or production side of the economy.
The GDP numbers have been computed based on the new 2011-12 base year recently adopted for data including the Index of Industrial Production (IIP) and Wholesale Price Index (WPI).

Reasons

The demonetisation drive of the government had an adverse impact on the economy. The GDP growth got reduced in Q3 and Q4 when compared with the growth rates in the beginning of the year.

GVA growth also registered a slow down in almost every sector in Q4 of 2016-17 when compared with the growth registered in the corresponding period of the previous year.

Capital formation was also relatively soft with growth below 30%.

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Government launches International Household Survey Network Toolkit

The Union Minister for Statistics and Programme Implementation, D.V. Sadananda Gowda has launched the International Household Survey Network (IHSN) Toolkit.

He also had launched new Website of the Ministry of Statistics and Programme Implementation in New Delhi.

What is International Household Survey Network (IHSN) Toolkit?

  • The IHSN is a standard bench mark which can be used as an active management tool for better integration of administrative structures and statistical access for policy making.
  • It is about latest trends & developments of data archives, storage and dissemination technology tools available to user. It is designed to address technical issues facing data producers.
  • Components of Toolkit are (i) Metadata Editor: It allows user to add survey metadata and create the ddi.xml and as Nesstar study document. (ii) CD-ROM Builder: It allows user to generate HTML output from the study that can be published on the Internet or a CD for dissemination. (iii) NADA: It is search engine that allows user to import the ddi.xml and search for variables and view metadata.

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