GDP data revision: Govt says it's not baseless
The statistics ministry maintained that India's latest GDP estimates, showing 7.8% growth for the April-June quarter, were not baseless despite criticism. Critics argued the growth was inflated due to a downward revision in GDP for the April-June quarter of fiscal 2026 and a low GDP deflator of 2.5% amid high inflation rates. However, the ministry defended the figures, pointing to changes in the accounting base year, improved data sources and methodologies, and a broader coverage of items in price calculations.
These factors, they said, better reflected the economic activity. The ministry also noted that the 2.5% GDP deflator, used to convert GDP numbers, does not necessarily align with retail or wholesale inflation measures due to differing coverage and weights.
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