According to India Ratings & Research, the size of the economy in the 2013-14 fiscal could be roughly 6% larger than estimated earlier once the government changes the base year for calculation to 2011-12 from 2004-05. With the change in the base year, the gross domestic product (GDP) at current prices would rise to around Rs. 111,70,000 crore ($1.8 trillion) in FY14. The government is expected to release the first revised estimate of national income, consumption, expenditure, savings and capital formation for FY14 with the new base year by January 31. Advance estimates of national income for 2014-15 would be announced on February 9.
Extracted from FE, Jan 29,’15