National Accounts Division, Central Statistical Organisation Deputy Director General, CSO
JEL Classification: E01
The new series of NAS with base year 1999-2000 incorporated several features of 1993 SNA. The production boundary and the asset boundary of NAS are close to the 1993 SNA recommendations. India is presently in Phase-3 of the ISWGNA's six Milestones in the Implementation of 1993 SNA. The NAS meets the ISWGNA's minimum requirement for implementation of the 1993 SNA, but falls short of recommended compilations in respect of (i) quarterly expenditures of GDP at current and constant prices, and (ii) annual supply and use tables.
The CSO has plans to compile integrated accounts of all institutional sectors upto capital accounts, the annual supply use tables and quarterly expenditures of GDP at current and constant prices, by March, 2007, so as to reach the Phase 4 level of milestones and full recommended compilations of 1993 SNA. There are no immediate plans to compile accounts listed in Phase 5 and Phase 6 of the Milestones.
The main concerns in the implementation of 1993 SNA have been the availability of detailed data on income and expenditures of various institutional sectors, particularly those relating to private sector, both organized as well as unorganised. Therefore, the CSO is taking measures to switch over to the 1993 SNA by looking at alternative available data sets. The CSO is also keen to implement the 1993 SNA update issues coming under the purview of production, income and capital accounts, as early as possible in consultation with the major data source agencies, such as the Reserve Bank of India.
