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LATEST NEWS UPDATES | India's GDP story gets topsy turvy with revisions in past data -Sushant Hede

India's GDP story gets topsy turvy with revisions in past data -Sushant Hede

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published Published on Mar 2, 2020   modified Modified on Mar 5, 2020

-TheWire.in

Significant downward revision in GDP growth during Q1 and Q2 of FY19 has been one of the key reasons for boosting GDP growth in the corresponding quarters of FY'20.

India’s gross domestic product (GDP) estimation by the Central Statistics Office (CSO) has been a story of upward and downward revisions in the last year.

While the GDP for Q3-FY’20 is estimated at 4.7%, its slowest pace in almost seven years, what is interesting and perhaps puzzling is the upward revision in the GDP growth of Q1-FY’20 (from 5% to 5.6%) and Q2-FY’20 (from 4.6% to 5.1%).

Notwithstanding this, GDP growth for the full year has been retained at 5%. This means that the CSO believes GDP growth in Q4-FY’20 would be flattish, at around 4.7%. Despite a favourable base effect available for Q4-FY’20, a flat GDP growth during the current quarter (Q4-FY’20) means that the aid on account of this would be offset by an adverse impact of the recent pandemic of coronavirus, which could disrupt global value chains.

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TheWire.in, 2 March, 2020, https://thewire.in/economy/india-gdp-data-revisions


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