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Comments sought on GDP back-series report
New Delhi, Aug 23 (IANS) The National Statistical Commission (NSC) has invited comments on the GDP Back Series 2011 report that credited UPA regime with the fastest economic growth leading to a political slugfest between the Congress and BJP.
“The reports of these committees are hereby placed in the public domain to facilitate wider public consultation. The NSC welcomes comments and suggestions on the reports by September 30,” the Commission said in a statement.
The GDP backseries report by the Committee on Real Sector Statistics, released last week, was one of the five reports by as many committees constituted by NSC in 2016 to examine potential improvement in methodology and database in GDP estimation.
The Ministry of Statistics and Programme Implementation (MoSPI) has revised the base years of the Gross Domestic Product (GDP) and the Index of Industrial Production (IIP) to 2011-12 and for the Consumer Price Index (CPI), or retail inflation, to 2012.
According to the backseries data on Gross Domestic Product, the Indian economy clocked a 10.08 per cent growth rate in 2006-07 under UPA regime led by then Prime Minister Manmohan Singh, the highest since liberalisation of the economy in 1991.
While Congress leaders highlighted the panel’s backseries report on economic growth as a reflection of its superior economic policies, the government said it is a draft report and will only be accepted as an official document after a wider consultation.
“The estimates in the report are not official estimates and are meant only to facilitate a decision on the appropriate approach,” MoSPI said in a statement last week.
“The Advisory Committee on National Accounts Statistics will be deliberating on the backseries estimates before finalising the same for continuity, consistency and reliability,” the ministry said.
Last Sunday, the NSC also said the methodology for back-casting of GDP series is a “work in progress” and yet to be finalised.
“The methodology, as also the series using the methodology, will be worked out using the suggestions made by the Committee on Real Sector Statistics and other suggestions that emanate during the consultancy process,” the NSC said.
Reacting to the claims by Congress, Finance Minister Arun Jaitley had pointed in a Facebook post that the global factors helped a high rate of growth during the period in question.
“However, when this honeymoon ended, growth started slipping down and to ensure that growth is maintained, two significant steps were taken. Firstly, fiscal discipline was compromised and the banking system was advised to go in for reckless lending, notwithstanding the fact that it would eventually put the banks at a risk,” he said.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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