Discrepancies in the computation of advance estimates of the country’s gross domestic product for 2023-24 stood at Rs 2.59 trillion as against (-) Rs 3.80 trillion in 2022-23 and (-) Rs 4.47 trillion in 2021-22, according to National Statistical Office (NSO).

On Friday, the NSO released its first advance estimates of national accounts which showed that the gross domestic product (GDP) will grow at 7.3 per cent in 2023-24, slightly higher than 7.2 per cent in 2022-23.

Discrepancies in the statistical GDP data refer to the difference in national income under production method and expenditure method.

According to experts, there will always be some discrepancies in national accounts because of delays in reporting information by various agencies including state governments.

Regarding the high level of discrepancies in the national accounts data for the current fiscal, experts are of the view that discrepancies are shown to report data as accurately as possible.

However, they say that the government make all efforts to reduce discrepancies.

There are three methods of computation of national income namely, production, expenditure and income.

The NSO’s first estimates of national accounts for this fiscal also showed that the country’s gross value added (GVA) will grow at 6.9 per cent in 2023-24, l
ower than 7 per cent in 2022-23.

PTI