-The Hindu ‘Lacks vigour, won’t stand up to scrutiny’ The Prime Minister’s Economic Advisory Council (PMEAC) has released a detailed note enumerating its objections to former Chief Economic Adviser Arvind Subramanian’s paper on India’s GDP growth. The note said that Mr. Subramanian’s paper “lacks rigour” and would not stand up to academic scrutiny. Lower GDP The paper, released in Harvard University, postulated that the GDP growth between 2011-17 was significantly lower than the 7%...

-Livemint.com * GDP estimates are based on accepted methodologies, says government * Subramanian made the claims in his latest working paper published on the Harvard University website New Delhi: India’s statistics ministry likely underestimated the impact of demonetization and the rollout of the goods and services tax (GST) on economic activity, leading to an overestimation of gross domestic product (GDP) figures, the finance ministry’s former chief economic adviser, Arvind Subramanian, has said. On 31...

-The Times of India India's gross domestic product growth rate has been overstated by about 2.5 percentage points per year post 2011, former chief economic adviser Arvind Subramanian has said in a research paper, prompting economists to doubt the size of the claimed overestimation, and the government to defend the data . Subramanian also called for revisiting the entire methodology and implementation for GDP estimation by an independent task force, comprising national...

-The Indian Express While official estimates have pegged average annual growth at around 7 per cent during this period, actual GDP growth is likely to have been lower, at around 4.5 per cent, says Subramanian New Delhi: In the midst of a raging controversy over India’s economic growth under the new GDP series, former Chief Economic Adviser Arvind Subramanian has concluded that the country’s growth has been overestimated by around 2.5...

-PTI The average income of farmers in FY16 was about Rs. 30,000 and, hence, Rs. 6,000 would be 20 per cent Farm income support scheme PM-KISAN will provide multiple benefits to farmers, including improving their credit worthiness, said Chief Economic Adviser K V Subramanian. The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) was announced in the Interim Budget 2019-20, under which Rs. 6,000 will be given in three instalments to 12 crore small...