'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
'Amartya Sen is a citizen of the country who has every right to criticise or give his opinion on a policy decision.' 'Get back at him! Why get back at Harvard?'
'Everyone confuses GDP to be a measure of output, when it is actually a measure of income.'
Much of the Q3 data will simply not be available for the CSO to factor in its calculation.
The new numbers show India's economic growth rate averaged 6.7 per cent during the Congress-led United Progressive Alliance regime as compared to 7.3 per cent under the present government. Previous numbers had put the average growth rate during the 10-year UPA rule at 7.75 per cent.
This time there has been a rather peculiar criticism of the latest GDP numbers.
India grew at 7.6% in 2015-16 and at 7.2% in 2014-15.
The panel finds 'discrepancy' in the Annual Survey of Industries data.
RBI Governor Raghuram Rajan has noted the contradiction.
The greatest disconnect lies in the estimates of industrial growth.
It is not a good idea to take the line that since demonetisation happened in the third quarter, everything that happened then was a consequence of that, says Chief Statistician TCA Anant.
Economists, however, caution against interpreting the data as a broad-based revival
Poor rainfall has also depleted water reservoirs levels, which is likely to impact the winter crops.
Changes the base year and included more sectors.
'...because the party is based on the Constitution.'
Maybe the new methods of measuring GDP helped us get an accurate picture.
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