Gross State Domestic Product (GSDP)
The estimate of State Domestic Product (SDP) is an important
indicator for measuring overall growth of the economy. The Central
Statistical Office has introduced in the year 2010 a revised series with the
base year 2004-2005, in the place of old series, i.e. 1999-2000 as the base
year.
GSDP is defined as the total market value of all final goods and services produced within the state in a given period of time, usually a year. It is also considered the sum of value added at every stage of production (the intermediate stages) of all final goods and services produced within a country in a given period of time, measured on monetary terms.
GSDP is an important indicator to measure the growth of different sectors of economy and socio-economic development. Thus, the GSDP estimates are very important for policy makers, administrators, planners and researchers.
Working Procedure
This division prepares the Estimates of Gross State Domestic Product for Primary, Secondary and Tertiary sectors according to the guidelines provided in SNA (System of National Accounts) 2008 and by the Central Statistics Office (CSO), New Delhi.
After collection and verification of the data from time to time, state income division prepares estimates at factor cost usually in the month of January-February every year. These estimates are discussed and verified by CSO during comparable discussion generally in the month of April-May every year.