Govt defends GDP estimates, says revisions reflect data, not growth boost ...Middle East

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Govt defends GDP estimates, says revisions reflect data, not growth boost
source : Business Standard ( Middle East ) () 29
The statistics ministry on Wednesday defended the methodology behind its newly released economic growth estimates, saying revisions to last year's GDP and the divergence between different price measures reflect updated data and estimation techniques rather than an attempt to artificially boost headline growth. The clarification came two days after the government released an updated series of annual and quarterly GDP estimates with 2022-23 as the base year, incorporating a new Producer Price Index (PPI), Banking Services Price Index and additional administrative data. The ministry's detailed questions-and-answers addressed concerns ranging from negative implicit price deflators in manufacturing to the sharp difference between nominal and real growth in mining, as well as the sizeable statistical discrepancy between production- and expenditure-side estimates. India's economy grew 7.8 per cent in real terms in the first quarter of fiscal 2026-27, according to the revised GDP series. T

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