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Solution to economy's woes: Boost incomes of those who will spend it best -Harish Damodaran

markets, just when farmers are set to harvest a bumper crop. The current economic slowdown began with Bharat. It has to also end with Bharat. According to the National Statistical Office’s GDP estimates for April-June 2019 released on Friday, India’s agriculture sector — which includes forestry and fishing — grew 2.04% year-on-year during the quarter. But what is significant isn’t the “real” growth (i.e.

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Why the Core of ex-CEA's Argument on India's GDP 'Overestimation' Stands -Prabhat Patnaik

an increase in GDP to 160 from the original 150. Increased exploitation of producers will appear as a 6 2/3 per cent rate of economic growth, from 150 to 160! This is why Marxists have never taken GDP estimates, and the growth rate measure based upon them, seriously. But the recent claim by the former chief economic adviser (CEA) to the government of India, Arvind Subramanian, that there is a gross over-estimation of India’s recent growth rat

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Is India overestimating its economic growth? -TCA Sharad Raghavan

accurate: 7% growth, as estimated by the government, or 4.5%, as estimated by Dr. Subramanian? R. Nagaraj: Ever since the 2015 GDP rebasing, there have been many concerns about the veracity of the GDP estimates. With the debate progressing, more and more issues have come to light. Many of us who have intervened in this debate have looked at the specific issues with the revised methodology and revised databases. And we have been trying to say how th

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PM's panel rejects former CEA's paper on GDP growth

ne 19, 2019, the primary contributors of this note reject the author’s methodology, arguments and conclusions in the said paper,” the note by the PMEAC said. “A critique of official GDP estimates must specifically critique coverage or methodology, the author does neither.” “Given the fact that his paper lacks rigour in terms of specific data sources and description, alternative hypothesis, rationale of equation specifi

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Upward GDP revisions for note ban, GST years surprising, says ex-CEA -Asit Ranjan Mishra * GDP estimates are based on accepted methodologies, says government * Subramanian made the claims in his latest working paper published on the Harvard University website New Delhi: India’s statistics ministry likely underestimated the impact of demonetization and the rollout of the goods and services tax (GST) on economic activity, leading to an overestimation of gross domestic product (GDP) figures, the finance ministry&

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YV Reddy, former Reserve Bank of India governor and chairperson of the 14th Finance Commission, interviewed by Roshan Kishore (Hindustan Times)

central government, unlike state governments. This is the crucial difference. Q. Revenue and expenditure projections are extremely important in deciding FC’s awards. At a time when even our GDP estimates are under controversy, how do see this impacting the 15th FC’s work? A. There are three important problems on this front. One, the FC has to factor for the possibility that forecasts by both the centre and states might not be reliab

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No achhe din for the farmer -Ashok Gulati & Ranjana Roy

ent must initiate structural reforms, set realistic targets The Central Statistics Office (CSO) has released the second advanced estimates of national income for 2018-19, along with the quarterly GDP estimates for Quarter 3 (Q3). The overall GDP for Q3 is down to 6.6 per cent and for 2018-19 as a whole, the GDP is expected to grow at 7 per cent, a notch lower than 7.2 per cent achieved in 2017-18. Our concern, however, is with the performance i

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The numbers game -Puja Mehra

rved in the GDP back series before and after the year 2011-12 India’s national income statistics are under a cloud. The Central Statistics Office (CSO) has released official revisions of the GDP estimates for the years 2004-05 to 2013-14 in the Manmohan Singh-led government’s tenure. The revisions make the Narendra Modi government’s performance on the economic front appear better than that of its predecessor. In 2015, when the

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India's GDP Debate: What Explains Reduced Growth Rates Under the UPA? -R Nagaraj

ate, revised periodically to account for evolving economic activities. The National Accounts Statistics (NAS) – the Central Statistical Office’s (CSO) annual publication which reported GDP estimates with the base year 2011-12 – was released in early 2015. The base year revision has always followed the UNSNA guidelines; the previous revision was with the base year 2004-05. GDP is re-based regularly to account for changing produc

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