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Meeting ID: 823 6158 8903 | Passcode: 20250307 |
| Abstract: GDP at constant prices should be considered when studying structural changes in an economy rather than GDP at current prices. For deriving GDP at constant prices, the double deflation procedure has a distinct advantage over the single deflation procedure. Among the G-20 countries, India is among the few that use the single deflation procedure. If India’s national accounts had adopted the double deflation procedure, the GDP data would have shown a significant hike in manufacturing share in GDP between 2003 and 2018. From a state-level analysis of trends in the share of organized manufacturing in state GDP, using data on eight Indian states that account for two-thirds of Indian manufacturing GVA and applying the double-deflation procedure for measuring real GVA, it is found that the phenomenon of premature deindustrialization did not occur in India, at least not in a significant way. |