MoSPI holds talks with stakeholders on estimation of informal sector in GDP
This story was originally published at 19:39 IST on 30 January 2025
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NEW DELHI – The statistics ministry Thursday held consultations with other ministries and stakeholders on the estimation of the informal sector in GDP, it said in a release.
"The consultation was organised to broad base the consultation on the current effort of the Ministry to revise the base year of GDP from 2011-12 to 2022-23," the release said. "It was aimed to discuss improvement in the methodology as well as incorporation of new data sources in the estimation of informal sector of the economy in the revised GDP series." The informal sector had contributed about 45% to the total GDP of the economy in 2022-23 (Apr-Mar), according to National Accounts Statistics.
Ministry of Statistics and Programme Implementation Secretary Saurabh Garg said that the ministry is exploring the use of administrative data sources like Goods and Services Tax and digital payment systems to estimate the contribution of the informal economy. The ministry has also started preparation for the Statistical Business Register, he said.
Garg said that starting January, monthly statistics on employment from Periodic Labour Force Survey and quarterly estimates for contribution of the unincorporated sector through a survey of unincorporated sector enterprises will be available. Currently, the government releases urban unemployment data from the Periodic Labour Force Survey every quarter. The survey is also released annually with unemployment data for both rural and urban areas. End
Reported by Shubham Rana
Edited by Tanima Banerjee
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