Difference of opinion seemed to have cropped up among the BJP members of Parliament's Estimate Committee on the ways to calculate Gross Domestic Product (GDP) data. The draft report prepared by the BJP veteran MM Joshi who heads the committee is ready for its adoption.
BJP members led by Lok Sabha MP Nishikant Dube has reportedly raised objection for the report questioning the Government's mechanism to calculate GDP data.
BJP MPs indicated that they will not let the panel's draft report on 'Measuring Growth, Employment and Income' which recommends review of the mechanism to calculate GDP to be adopted in its current form.
Some of the BJP MPs and members of the panel said it is absolutely incorrect for the report to question the Government's mechanism to calculate GDP data.
They reportedly said It is being done according to global standards and the current Government is implementing the same methodology which was used by the previous ones, the MP said.
Dubey may give a dissent note against the draft report and it will be adopted only after amendments.
The draft report, which was tabled in the Estimates Committee's meeting on Thursday, states that detailed examination reveals several inadequacies in the GDP measuring mechanism, such as depletion of natural resources is not being taken into consideration.
It also said there is no mechanism to assess whether increase in GDP leads to happiness among the people.
In the draft report, the committee concluded that the mechanism developed for GDP estimation needs review and should reflect the ground reality.
The draft report recommended review and total revamp of mechanism to calculate GDP and evolve indicators/parameters to gauge the environmental resource decay, and replenishment efforts made to compensate the loss and also to capture these aspects in measuring GDP and other economic parameters.
