Reserve Bank of India (RBI) has come up with a new method of calculating India’s growth through a Working Paper titled “Nowcasting Indian GDP growth using a Dynamic Factor Model” under the RBI Working Paper Series, introduced in March 2011. Here are the 12 indicators: Index of industrial production (IIP) –consumer goods IIP- core sectors Automobile sales Non-oil non-gold imports Exports Rail freight Air cargo Foreign tourist inflows Government tax receipts Nominal Effective Exchange Rate (NEER) Sensex Bank Credit
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