If some companies were mislabelled as service firms, the error will change the composition of GDP, not its size
comes from informal enterprises, which defy easy taxation, estimation or even definition. A similar share consists of services, which are harder to count than things you can drop on your foot or pull out of the ground.
To sharpen the statistical focus, India’s data-gatherers tried to carry out a big survey of service companies in 2016-17. They set about contacting over 35,000 enterprises, drawn from a list of registered companies that file accounts online with the Ministry of Corporate Affairs under an initiative called “Upgrade your inbox and get our Daily Dispatch and Editor's Picks.
Many of the companies could not be traced. Others had closed since the list was compiled. Yet others were not service companies after all. And many bosses were reluctant to answer or sign off on the survey.21 source since an overhaul in 2015. That overhaul, many feel, has overstated recent growth rates. Theflap, combined with the government’s attempt late last year to suppress embarrassingly bad jobs figures, have badly damaged the credibility of Indian statistics.
The latest controversy may itself be overstated, however. If some companies were mislabelled as service firms, the error will change the composition ofnot its size. Some closures are to be expected, given that the survey took place more than two years after the companies filed their returns to the. Some of the untraceable firms may be shell companies, reporting revenues they do not themselves earn. But that revenue may still be genuine, earned but unreported by other entities.data.
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