Economists Defend Accuracy of India’s Revised GDP Estimates
· Business · Indian Express, Hindustan Times
The Ministry of Statistics and Programme Implementation (MoSPI) has faced criticism over recent GDP revisions, but analysts argue the controversy is misplaced. Revisions are standard practice globally to account for modern economic structures and retrospective data updates. For instance, Q1 FY26 GDP was revised from an initial estimate of Rs 86.1 lakh crore to Rs 80 lakh crore under the new 2022-23 base year. Calculations using mismatched base years have led to misleading growth figures, such as claims of 2.6 percent growth instead of the official 10.3 percent. When compared on a consistent base, the real growth for Q1 FY27 is estimated at 7.8 percent.
Why it matters
Accurate interpretation of GDP data is essential for understanding India's economic health, as miscalculations can lead to incorrect assessments of growth and policy effectiveness.
Read the original report — Indian Express
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