Subhash Garg’s 2.6% GDP growth claim 'statistically meaningless', say official sources - Moneycontrol.com
· Business · Moneycontrol
Official sources have dismissed former economic affairs secretary Subhash Garg's recent calculation that India's real GDP grew at just 2.6 percent annually between FY20 and FY24 as statistically meaningless. The sources stated that his methodology relied on incorrect base-year comparisons and flawed deflation techniques. According to the government data, India's economy expanded at a much higher average rate during the post-pandemic recovery period. Critics of the claim pointed out that comparing pre-pandemic numbers with pandemic-distorted figures without proper adjustment creates distorted economic conclusions. Further details regarding the official rebuttal were detailed in reports published by Moneycontrol.
Why it matters
The dispute over long-term GDP growth figures directly impacts public trust in official economic data and shapes policy debates surrounding India's post-pandemic recovery trajectory.
Read the original report — Moneycontrol
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