-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 Indian Express Raising farm productivity is the first step to increasing rural demand and reviving the manufacturing sector As per the last report of National Statistical Office (NSO) released on May 31, the gross value added (GVA) at basic prices (2011-12 prices) for the fourth quarter (Q4) of 2018-19 has slumped to 5.7 per cent for the overall economy, 3.1 per cent for manufacturing, and -0.1 percent for agriculture, forestry...

-The Hindu Narendra Modi must leverage the public trust voters have placed in him to get the economy on track Prime Minister Narendra Modi’s election campaign, staying clear of bread-and-butter issues, successfully swayed voter attention away from economic hardships. Having won a thumping mandate, his government in its second tenure must now devote itself to a well-thought-out strategy for economic reforms. The bad news Official estimates released on Friday, the new government’s first day...

-The Hindu Business Line Fears over shell companies inflating the GDP are overdone, but the CSO needs to be more transparent in its methods Just as the dust was settling on the controversy over the Centre deferring the release of NSSO’s labour force survey which showed unemployment numbers in an unflattering light, a new one has broken out on the veracity of the MCA-21 database used in GDP calculations. The economic commentariat...

-MoneyControl.com A government official defended the calculations saying that since the tax collections match up with the database, it is not unusable. Prominent statisticians have dismissed fresh concerns on growth projections raised by a National Sample Survey Office (NSSO) study. An article in The Hindu quoted statisticians as saying the discrepancies pointed out by NSSO in the new Ministry of Corporate Affairs (MCA-21) database will have no major impact on growth. The government...