India's GDP growth questioned after official alleges overstatement

cnbc.com

India's June quarter GDP growth of 7.8% is under scrutiny after a former finance secretary alleged the figure was artificially boosted by revising down the previous year's data by 6 trillion rupees. The government's chief economic advisor defended the numbers, attributing changes to a new statistical base year and methodology, while critics and political opponents argue the revisions lack explanation and mask economic reality. The IMF previously gave India's economic data a low grade, and experts note the GDP relies heavily on formal-sector data, with some questioning estimation errors while others say the growth figure shouldn't be dismissed outright.


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