-Livemint.com India’s actual growth rate over the past few years may have been in the range of 5-5.5% over the past few years, according to a new study Last month, a research paper by the former chief economic adviser to the finance ministry, Arvind Subramanian, reignited the controversy surrounding India’s GDP calculations. In his paper, Subramanian suggested that India’s growth rate in recent years had been grossly overestimated --- a claim that...
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Not by wishful thinking -R Nagaraj
-The Hindu A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target — to grow India into a $5 trillion economy by 2024. It is now for ‘Team India’, as the meeting was bannered, to translate this target into a plan and policies and programmes. Historically, such...
More »Prudent prescription: on MSME sector
-The Hindu An RBI panel’s suggestions on the MSME sector cut to the heart of crucial issues The micro, small and medium enterprises (MSME) sector in India is not only a key engine of growth, contributing more than 28% of the GDP and about 45% to manufacturing output. It is also a true reflection of economics where people really matter. Providing employment to about 111 million people, the sector’s health is crucial...
More »Is India overestimating its economic growth? -TCA Sharad Raghavan
-The Hindu The new GDP series has some methodological and sampling problems Former Chief Economic Adviser Arvind Subramanian recently claimed in a paper that India’s GDP growth from 2011-12 to 2016-17 was likely to have been overestimated. The Prime Minister’s Economic Advisory Council has rejected this claim, stating that his paper would “not stand the scrutiny of academic or policy research standards”. In a conversation moderated by T.C.A. Sharad Raghavan, Pronab Sen...
More »GDP numbers: EAC-PM rejects ex-CEA's claims, releases point-to-point rebuttal
-The Times of India NEW DELHI: The Economic Advisory Council to the Prime Minister (EAC-PM) on Wednesday rejected the claims of former CEA Arvind Subramanian regarding over-estimation of GDP numbers and said that India's current methodology is at par with its global standing as a responsible, transparent and well-managed economy. The EAC-PM released a detailed note titled 'GDP estimation in India - Perspectives and Facts' and as it earlier stated, the note...
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