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Strategies & Market Trends : India Coffee House
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To: ratan lal who wrote (6218)9/2/1999 11:58:00 AM
From: Mohan Marette  Read Replies (1) of 12475
 
IT sector 'revaluation' to add 1% to GDP

Ratan:
Speaking of GDP, check this out.
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Date: 9/2/99 11:57:22 AM (Courtesy:Probity Research)

India?s GDP is expected to swell by an additional Rs180bn. This will be assisted by the Central Statistical Organisation?s (CSO) updating of its methodology to capture the actual value addition by the the information technology (IT) sector. The change will take effect from this fiscal. According to officials, the contribution of the IT sector is not adequately reflected on the current GDP estimates leading to an under valuation of the country?s GDP. The CSO, which currently estimates only about Rs5bn which is considerably low than the value added estimated by the CSO, which is expected to be around Rs180bn. According to the secretary, department of statistics, R S Mathur, ``The government was looking at realistic estimates compiled by the department of electronics which puts the IT sector?s contribution to the GDP at Rs180bn.? This addition of Rs180bn from the IT sector will lead the GDP to expand by an additional 1%. The government is also planning to create a central data warehouse under the aegis of the CSO which is expected to bring all government data under one roof.
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