India has always led in developer talent and now has a strong opportunity to lead in AI talent, OpenAI Global Chief Strategy Officer (CSO) Jason Kwon said on Thursday as the ChatGPT-maker launched OpenAI Academy in partnership with IndiaAI Mission.
Questioning the methodology of CSO in computing economic growth projections, the Planning Commission today said it has ignored the rising growth trend while working out estimates for 2012-13.
The Finance Ministry on Friday said the CSO has underestimated GDP growth rate for current financial year and exuded the confidence that economic expansion will exceed 5.5 per cent.
Bengaluru-headquartered Wipro has decided to elevate Chairman Azim Premji's elder son Rishad as the chief strategy officer (CSO) of its information technology (IT) business from January 1, 2011.
When FM was that the third-quarter GDP data was not in line with his ministry's optimism, he had said he relied on the advice of his advisors.
The Central Statistical Organisation, the government agency responsible for keeping track of how the economy is performing, goes through five phases of estimating how much India's GDP amounts to each year.
Updated new base years for national accounts and other macro-indicators are expected to come into effect from January-February 2026, coinciding with the first and second advance estimates of national income for FY26, senior official sources aware of the development told Business Standard. "The statistics ministry set up the Advisory Committee on National Accounts Statistics (ACNAS) earlier this week. "It will advise on the base year for GDP (gross domestic product) and its alignment with other macro-indicators.
The economy is poised to grow by 8.1 per cent this fiscal powered by a 9.1 per cent rise in farm output, according to the advanced estimates of Central Statistical Organisation.
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
The incident took place on Tuesday night and police have registered two cases based on complaints from students of the university.
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
He also held another meeting with a delegation of civil society organisations as part of his outreach and they expressed their commitment to peace and assured that they would work for restoring normalcy in Manipur.
Earlier, the CSO in its advance estimate had pegged the GDP growth rate for 2018-19 at 7.2 per cent.
'You can still hear gunshots, and this time even children know they are not normal.'
"The process of rectification began immediately. . . it has already begun. . . the immediate correction was already there. So far what else I can do to improve the quality of the expenditure side figures, I have already started," Chief Statistician TCA Anant said.
Inflation breached the upper end of the RBI's comfort level of 4 per cent plus-minus two percentage points.
The CSO said that the first revised estimates for 2016-17 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on May 31, 2017.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
'Given that the economy is going through a slowdown, further downward revisions of the 2019-2020 growth estimates cannot be ruled out,' notes A K Bhattacharya.
The Reserve Bank of India, which mainly factors in retail inflation to decide its monetary policy, has been tasked by the government to ensure the rate of price rise remains around 4 per cent.
The CSO estimate is, however, a bit lower than 7.4 per cent growth projected by the Reserve Bank for the current fiscal.
Much of the Q3 data will simply not be available for the CSO to factor in its calculation.
The new numbers show India's economic growth rate averaged 6.7 per cent during the Congress-led United Progressive Alliance regime as compared to 7.3 per cent under the present government. Previous numbers had put the average growth rate during the 10-year UPA rule at 7.75 per cent.
GDP growth during 2018-19 is estimated at 7 per cent as compared to 7.2 per cent in 2017-18.
The technical report of the NSSO has generated controversy following its observation that as much as 36 per cent units forming part of MCA-21 database, used in computing GDP, could not be either identifiable or traceable in the field.
India's growth rate is not UPA/NDA issue, Arun Jaitley said.
Slowdown in industrial production notwithstanding, a marginal increase in inflation raised the clamour for another round of rate cut by the Reserve Bank on April 4 to boost economic activity.
The previous high was recorded at 7.5 per cent in the July-September quarter of 2016-17.
Unlike the Advance Estimates which missed the impact of demonetisation, CEA's survey is likely to have a better take on Indian economy.
The rate of price rise in the protein rich items like eggs, milk and other products too moderated in March as against the previous month.
Finance Ministry had pegged the growth at 5.7 per cent and RBI at 5.5 per cent.
According to the Central Statistics Office data, the jump in the retail inflation based on Consumer Price Index was mainly due to rise in prices of kitchen items like vegetables, meat and fish.
Union Health Minister Mansukh Mandaviya on Tuesday suggested that stickers for houses to notify completion of both doses of COVID-19 vaccines should be given to fully vaccinated families to encourage uptake of vaccine among the population.
N R Bhanumurthy, professor of economics at the National Institute of Public Finance and Policy, and the author of the series, presented in a report to the National Statistical Commission, explains to Abhishek Waghmare various aspects of the methodology.
The rate of price rise has been on a decline for the past four months.
The First Advance Estimates of National Income, 2016-17 did not reflect the impact of demonetisation, effected on November 9 and are based on sectoral data for only seven months to October.
The new numbers did not apparently pass consistency checks with production, inputs, or movements in the National Stock Exchange.
The economy is expected to grow 4.9 percent in 2013/14, marginally lower than the finance ministry's estimate of a 5 percent growth, dragged down by a contraction in the manufacturing sector, a government statement said on Friday.
The new national income numbers produced by the Central Statistics Office (CSO) have elicited two kinds of reaction.
India's GDP estimates for 2020-21 show that the economy is expected to perform much better than earlier projections by different agencies, indicating a sustained V-shape post-lockdown recovery, experts said. The first Advance Estimates (AE) by the National Statistics Office (NSO) has projected a contraction of 7.7 per cent in the real GDP during 2020-21. This was better than the projections by certain international agencies like the IMF and World Bank.
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