Multiple revisions of official GDP data confuses analysts, says RBI

The dilemma regarding reliability is usually the greatest around the release of advance estimates

Analysts at the Reserve Bank of India (RBI) have questioned the numerous revisions in gross domestic product (GDP) data by the statistics office. RBI has said this confuses analysts about the economy. 

It suggested the Central Statistics Office (CSO) incorporate data on high frequency economic indicators such as commercial vehicles and international air passenger traffic. It should employ state-of-the-art methods such as 'nowcasting' to arrive at precise estimates of growth in their advance estimates.

A new paper by the analysts examines deviations in economic growth between the first release (or advance estimates) and the final growth estimates, published by CSO.