National Accounts and Productivity Measurement: Challenges in Time Series Analysis

T. C. A. Anant ()
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T. C. A. Anant: ISID

Chapter Chapter 19 in 75 Years of Growth, Development and Productivity in India, 2025, pp 645-654 from Springer

Abstract: Abstract The India Productivity Report (2022) (Krishna, K. L., et al. [2022]. India productivity report. RBI. https://rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=1217 .) has a comprehensive introduction and review of productivity measurement and research both in India and globally. This study—which reflects the work of the India KLEMS project—also forms the basis of the KLEMS data now housed at RBI (KLEMS Database, RBI. https://rbi.org.in/Scripts/KLEMS.aspx .). This database is increasingly being used by many researchers working on the Indian economy. It draws upon National Accounts, Household and Establishment Surveys of the NSS and the Population Census to construct a time series of Capital (K), Labour (L), Energy (E), Material (M) and Services(S). This allows users to do time-series analyses on India Economy since 1981. However, since the source datasets have seen changes over the years due to improvements in measurement techniques, it creates challenges for time-series analysts. In this paper, we will examine the developments in National Accounts after 1981, focusing on issues of estimation of value-added in the Informal Sector, Trade and Construction and examine their implications for productivity studies (Some puzzles in productivity growth have been highlighted by Prof Goldar in his presentation at the Indian Econometric Conference, 2024, Keynote paper.).

Keywords: National accounts; CSO; Productivity estimates; Informal sector (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/978-981-97-8054-9_19

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