Statistics Ministry Official Defends 7.8 Per Cent GDP Growth Figure
· Business · NDTV
Dr. Saurabh Garg, Secretary of the Ministry of Statistics and Programme Implementation, has dismissed doubts regarding India's 7.8 per cent GDP growth rate as baseless. He stated that the figure is calculated using international methodologies and verified through multiple data sources, including GST collections, private company reports, and production data for sectors like steel and electricity. The government recently shifted the base year for GDP calculations to 2022-23 to better reflect the current structure of the economy. Dr. Garg noted that this periodic adjustment is standard international practice to account for products that no longer exist or have emerged since the previous base year of 2011-12. He emphasized that all underlying data sources remain available for public cross-checking.
Why it matters
The accuracy of GDP data is critical for policymakers, investors, and the public to gauge the health of the Indian economy and guide fiscal and monetary decisions. Clarifying the methodology addresses concerns raised by economists and political figures regarding the reliability of official economic indicators.
Read the original report — NDTV
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