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Every number in Budget is authentic, says Sitharaman amid row over disparity in GDP figures

-The Indian Express The Economic Survey, released by Chief Economic Advisor S Krishnamurathy a day before the Union Budget, pegged the nominal GDP growth at 12 per cent while the budget projected it at 11 per cent. New Delhi: Finance Minister Nirmala Sitharaman Wednesday dismissed speculations surrounding the GDP figures quoted in the Union Budget, saying “every number is authentic”. Replying to the debate on her maiden Union B

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Getting the GDP numbers right -S Mahendra Dev

-The Indian Express Estimates are not perfect, but the process is revised and fine-tuned. Former Chief Economic Adviser Arvind Subramanian’s recent paper claims that the Indian GDP growth may have been overestimated by 2.5 per cent per annum between the period 2011-12 and 2016-17. A note by Prime Minister’s Economic Advisory Council (PMEAC) rejects the methodology, arguments and conclusions of Subramanian’s paper. A study do

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India GDP overestimation: more evidence -Nikita Kwatra

of Management Ahmedabad (IIM-A), Sebastian Morris and Tejshwi Kumari, published earlier this year, arrived at similar conclusions using techniques similar to that of Subramanian. The duo estimated GDP growth in recent years by using proxy indicators of economic activity such as credit and exports growth to extend the old GDP (2004-05) series. Their analysis suggests that growth rates calculated using the current 2011-12 series may have overestimate

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Homelessness highlights the inequality behind GDP growth numbers -Debarati Bhattacharya

-The Hindu Business Line To tackle homelessness, the government should provide better incentives to developers to provide affordable housing Food, clothing and shelter are three basic human needs. Out of the three, shelter remains beyond the reach of 1.77 million people in India, accounting for 0.15 per cent of the nation’s population (Census 2011). Rights groups, however, say that the actual figure is at least three times higher. Consequently, a large number of people are spotted

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India's missed growth opportunities -Nikita Kwatra

cal regimes. At its heart lie arbitrary and myopic decisions inspired by politics rather than sound economics. Before the global financial meltdown of 2008, the Indian economy was thriving and its GDP growth was cruising at 8.8%, writes Mehra. Even if unequally, this growth impacted the lives of large sections of Indians. But in the decade that followed, Mehra chronicles, this “growth story" unravelled into “growth without a story&

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The case for doubting India's GDP numbers -V Anantha Nageswaran Arvind Subramanian’s conclusions about GDP growth figures are in the right direction. There’s no point being in denial Arvind Subramanian was the chief economic advisor (CEA) to the Government of India from October 2014 to June 2018. Among other things, he became well known and was praised deservingly for his Economic Surveys. He made that document interesting, useful and accessible. He also took it to the country by

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Is India overestimating its economic growth? -TCA Sharad Raghavan

-The Hindu The new GDP series has some methodological and sampling problems Former Chief Economic Adviser Arvind Subramanian recently claimed in a paper that India’s GDP growth from 2011-12 to 2016-17 was likely to have been overestimated. The Prime Minister’s Economic Advisory Council has rejected this claim, stating that his paper would “not stand the scrutiny of academic or policy research standards”. In a conversati

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

The Prime Minister’s Economic Advisory Council (PMEAC) has released a detailed note enumerating its objections to former Chief Economic Adviser Arvind Subramanian’s paper on India’s GDP growth. The note said that Mr. Subramanian’s paper “lacks rigour” and would not stand up to academic scrutiny. Lower GDP The paper, released in Harvard University, postulated that the G

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Five policy reforms to jump-start growth -Niranjan Rajadhyaksha How India can put in place policy reforms to raise GDP growth without creating macroeconomic instability Mumbai: The second Narendra Modi government has begun its innings in the midst of a sharp economic slowdown. Economic expansion in the fourth quarter of the previous financial year was at the lowest level in five years—and 2.2 percentage points lower than growth in the first quarter of that year. The recent loss in econo

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Arvind Subramanian's calculation of GDP is flawed too, says economist Arun Kumar

ent. Kumar pointed out that the unorganised sector and its slowdown has not been taken into account by Subramanian’s paper or even into the government’s own calculations. India’s GDP growth rate could be only around 1 per cent if that is accounted for, he added. “When we estimate the GDP we look at various sectors in the economy and we count the different sectors and sub-sectors on how much they contribute to the GDP. We

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