Economy-Growth rate estimates?

Varun

Recently, following organizations/institutions predicted India's GDP growth rate for financial year 2012-2013
ADB = 8-9%
RBI in Q3 policy review = 5.6%
CSO (Advance Estimate) = 5%

I've following doubts
1. What are other institutions which predicts GDP growth?
2. Which of these predictions are considered to be official via GOI?
3. What does Advanced Estimates (as done by CSO recently) mean? Is it determined by extrapolation?
4. Are all these forecasts important characteristic of an indicative economic policy and not imperative one?

Please help me out.

alexiaaicha

Varun the only thing I know on this is that the Fin Min dissed the CSO figures. So definitely the govt doesnt take CSO seriously. But I don't know the answer. I will have to find out.

asg

@Varun
I think the RBI in it's Q3 policy review said 5.5%

Anyways, I believe advance estimates means that it is based on the data available so far, and as the CSO has more data, they will revise this number. This is something like the stages of estimates of agricultural output; (I don't remember the exact terminology, can somebody look up the IYB?) which is given as first advanced estimate, second advanced estimate etc.

Varun

@asg
Yes, RBI in it's Q3 policy review said
5.5%.

raipuriya

Varun the only thing I know on this is that the Fin Min dissed the CSO figures. So definitely the govt doesnt take CSO seriously. But I don't know the answer. I will have to find out.

CSO is the supreme body who keeps the statistical records :-B
may be some ministers showed dis agreement with CSO's figures but the govt cant just ignore that statistics. [-X

its most reliable institution for this kind of studies, and even if govt do nt give it a damn, all others will take it very seriously