India's new GDP series: GST, corporate data drive new methodology
Credit: ET Bureau
India's revamped GDP calculation incorporates extensive corporate filings and GST data, as revealed by the statistics ministry. This update emphasizes the integration of company-level information for a more precise estimation of private corporate sector activities. Furthermore, an innovative methodology leverages corporate filings and LLP records to enhance industry classification, while surveys are used for direct assessments of the household and unincorporated sectors.