compilation of national accounts statistics in india: a ... - Mimts.org

More documents

Recommendations

Info

108 THE JOURNAL OF INCOME AND WEALTH leadership of Prof. C.R. Rao, which gave constructive suggestions for the improving the data base of Indian economy. Two sessions in this seminar were exclusively devoted to national income statistics and related aggregates in which background papers on “National Income Statistics” by Prof. M. Mukherjee and “Savings, Investment and Consumption” by Prof. Ashok Rudra were discussed. Biennial Conferences of the Central and State Statistical Organisations have also played useful role in providing forums for discussion of the methodology etc. relating to the improvement of the national income estimates. www.IndianJournals.com Members Copy, Not for Commercial Sale Downloaded From IP - 115.248.73.67 on dated 29-Nov-2010 XVIII. International Standards on System of National Accounts Official interest in the comparability of economic statistics dates back at least to 1928. In that year the League of Nations held an International Conference Relating to Economic Statistics to encourage the compilation of such statistics and the adoption of uniform presentation methods. The Final Act of the Conference stated that international comparability should be a goal, especially among countries with sophisticated statistical systems. It urged countries to consider extending the scope of official statistics to facilitate compilation of national income estimates at regular intervals. In 1939, the League of Nations first published national income estimates, for all or part of the period 1929 to 1938 for 26 countries, with half of them being official estimates and others from academic or private studies. After the Second World War, a need was felt for comparable measures of national income as a basis for apportioning the expenses of international organizations. To help address this need, the Sub-committee on National Income Statistics of the League of Nations Committee of Statistical Experts was formed. The Sub-Committee met in December 1945, working from a memorandum prepared by Richard Stone. The origins of SNA trace back to the Sub-committee’s report published in 1947, which recommended a set of nine tables to present national income statistics. By 1950, the United Nations Statistics Office was able to assemble estimates from country sources, for National Income Statistics, 1938-1948, from 41 countries. An Expert Group appointed by the UN met in 1952 to formulate a standard system. The result was the 1953 report “A System of National Accounts and Supporting Tables”. This report presented a set of 6 standard accounts. Compared to the 1947 report, the 1953 accounts were further elaborated with respect to capital transactions. It also took the needs of developing countries into consideration. The System of National Accounts recommended by the United Nations in 1953 for general use, popularly known as UNSNA, 1953 has influenced the development of national income statistics all over the world. After 2 other editions of 1953 SNA in 1960 and 1964, the UN convened an Expert Group meeting, which met for two weeks in 1964 basing its discussion on a draft paper prepared by Richard Stone. The outcome was the 1968 SNA. This recommended a set of 20 accounts, broken into three classes, consolidated accounts of the nation, production, consumption expenditure and capital finance accounts and income and outlay account and capital finance accounts. Now the UNSNA has again been revised in 1993 to make it more elaborate, comprehensive and harmonized with other systems such as Balance of Payments Statistics, Government Finance Statistics etc. Accounts have also been partitioned into more detailed sub-accounts.
COMPILATION OF NATIONAL ACCOUNTS STATISTICS IN INDIA 109 The heads of NAD, CSO, worked as members of the Expert Groups of the UN to prepare the UN guidelines since the beginning. Prof. M. Mukherjee was a member of the Expert Group which prepared the UNSNA and supporting tables in 1953. Dr. S.G. Tiwari Scope of the compilation of 1993 SNA tables and accounts www.IndianJournals.com Members Copy, Not for Commercial Sale Downloaded From IP - 115.248.73.67 on dated 29-Nov-2010 Numbers of related tables of UN questionnaire on SNA SNA segments Annual Quarterly accounts accounts Name of SNA segment Value added, GDP and Employment 2.1 Value added and GDP in current prices by industry Min req’t Recomm 2.2 Value added and GDP in constant prices by industry Min req’t Recomm 1.1 Expenditures of the GDP in current prices Min req’t Recomm 1.2 Expenditures of the GDP in constant prices Min req’t Recomm 2.3 Value added components by industry, current prices Min req’t Desirable Employment by industry Min req’t Recomm Integrated accounts and tables, including integrated satellite accounts 1.3/4.1 Accounts for the total economy Min req’t Recomm Supply and use table Recomm Desirable 5.1 Cross-classification of output/value added by industries and sectors Recomm Integrated economic accounts * Tourism accounts * Environmental accounts * Social Accounting Matrices Other socioeconomic accounts * Purpose classification of expenditures 3.1 General government final consumption (and other) expenditure by purpose in current prices Recomm General government final consumption expenditure by purpose at constant prices * 3.2 Individual consumption (and other) expenditures by purpose in current prices Recomm Individual consumption expenditures by purpose at constant prices * Purpose classification of intermediate and final consumption across all sectors * Sector accounts (until net lending) 4.2 Rest of the world accounts (until net lending) Min req’t Recomm 4.3 Non-financial corporations sector accounts (until net lending) * 4.4 Financial corporations accounts (until net lending) Recomm 4.5 General government sector accounts (until net lending) Recomm 4.6 Household sector accounts (until net lending) * 4.7 Non-profit institutions serving households sector accounts (until net lending) * Financial and capital stock accounts and tables 4.1-4.7 Financial accounts for all sectors * Balance sheets, revaluation and volume changes in asset accounts * Asset accounts for financial assets * Asset accounts for produced assets * Asset accounts for non-produced assets *
Page 1 and 2: The Journal of income and wealth, V
Page 3 and 4: COMPILATION OF NATIONAL ACCOUNTS ST
Page 15: COMPILATION OF NATIONAL ACCOUNTS ST

compilation of national accounts statistics in india: a ... - Mimts.org

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?