-The Telegraph New Delhi: India is no longer the fastest-growing major economy in the world: it has lost its bragging rights to China. The Central Statistics Office (CSO) today put out its provisional estimates on national income that showed real GDP growth had tumbled to 6.1 per cent in the fourth quarter (January-March). That is considerably slower than the 6.9 per cent growth that the resurgent Chinese economy racked up during the same...
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Demonetisation Pulls Down India's GDP to 3-Year Low at 6.1%, Loses Fastest Growing Economy Tag to China
-Outlook Hit hard by demonetisation, India lost the tag of the fastest growing economy to China in the March quarter with a GDP growth of 6.1 per cent, pulling down the 2016-17 expansion to a three-year low of 7.1 per cent. The bad news of the economy growing at the slowest pace in three years mainly on account of poor performance of manufacturing and service sectors come at a time when the...
More »Why India needs another statistical revolution -Pramit Bhattacharya
-Livemint.com The Indian statistical system is failing to fulfil the needs of 21st century policymaking The Indian state has often been a source of bewilderment to observers and analysts, and a source of frustration for its citizens who marvel at the state’s ability to perform complex tasks—such as running a successful space mission—while failing to perform many basic tasks such as ensuring the survival of newborns. Perhaps no other organ of the...
More »From being world leader in surveys, India is now facing a serious data problem -Abhijit V Banerjee, Pranab Bardhan, Rohini Somanathan & TN Srinivasan
-The Economic Times blog In December 1956, Zhou En Lai, the Chinese premier and, after Mao, the second mostpowerful man in China, created much consternation by refusing to leave his meeting at the National Sample Survey Organisation (NSSO) office at the Indian Statistical Institute (ISI) in Kolkata. He was talking to Prasanta Chandra Mahalanobis, the founder of the institute, and one of the pioneers in the field of survey methods. Zhou was...
More »Macroeconomic Impact of Demonetisation: A Preliminary Assessment -RBI
-eSocialSciences.org The analysis in this paper suggests that demonetisation has impacted various sectors of the economy in varying degrees; however, in the affected sectors, the adverse impact was transient and felt mainly in November and December 2016. The impact moderated significantly in January 2017 and dissipated by and large by mid-February, reflecting the fast pace of remonetisation. The latest CSO estimates suggest that the impact of demonetisation on GVA growth was...
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