-The Indian Express Estimates are not perfect, but the process is revised and fine-tuned. Former Chief Economic Adviser Arvind Subramanian’s recent paper claims that the Indian GDP growth may have been overestimated by 2.5 per cent per annum between the period 2011-12 and 2016-17. A note by Prime Minister’s Economic Advisory Council (PMEAC) rejects the methodology, arguments and conclusions of Subramanian’s paper. A study done at our institute by Ashima Goyal...
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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...
More »GDP and its assumptions -Arun Kumar
-The Indian Express New GDP back series does what the government needs it to — shows that growth during its term has been higher than during the UPA regime. Controversy over the growth performance of the Indian economy took another turn with The Indian Express breaking the story about Niti Aayog not allowing the back series to be announced three years back because it showed a higher growth rate during the...
More »The numbers game -Puja Mehra
-The Hindu A structural break can be observed in the GDP back series before and after the year 2011-12 India’s national income statistics are under a cloud. The Central Statistics Office (CSO) has released official revisions of the GDP estimates for the years 2004-05 to 2013-14 in the Manmohan Singh-led government’s tenure. The revisions make the Narendra Modi government’s performance on the economic front appear better than that of its predecessor. In 2015,...
More »Decoding the CSO's backcasting of national income data -KR Srivats
-The Hindu Business Line ‘GDP growth rates for 2004-11 were bound to come down’ New Delhi: “You can slice and dice the data anyway you want, but India’s GDP growth rates between 2004 and 2011 were bound to come down in the backcasting computation effort,” said TCA Anant, former Chief Statistician of India. When the new base year of 2011-12 came out, the Central Statistics Office (CSO) had documented and recognised that the...
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