New GDP series to align with internationally accepted methodology

NEW GDP SERIES TO ALIGN WITH GLOBAL METHOD   For: Preliminary & Mains Topics covered: New GDP series, Linked back-series method, Splicing method, GDP, MCA-21, Methodology for compiling back-series estimates   News Flash The government has turned out with a linked back-series of India’s growth numbers from 1950-51 to 2003-04, with 2011-12 as the base year, to adjust gross domestic product from past years with the new globally/ internationally accepted methodology and facilitate comparisons. Whenever…