Govt defends GDP data after ex-FS claims Q1 growth 2.6%
The government firmly defended the accuracy of India's GDP data, countering criticism that the figures had been inaccurately revised. Critics had pointed to a downward revision in nominal GDP growth for Q1 FY 2025-26, noting that the base year used to calculate the growth rate had changed. The government explained that the revision was consistent with the new methodology, which incorporated more granular data and a broader range of indicators.
The statistics ministry revised the Q1 GDP figure from Rs 86 lakh crore to Rs 80 lakh crore due to the availability of updated production price index (PPI) and index of industrial production (IIP) data. The former finance secretary, Subhash Chandra Garg, had calculated that nominal GDP growth would have been around 2.6% and real GDP growth near 0% if the GDP had not been revised down.
Going forward, the government expects only minor revisions to GDP figures, with no substantial changes anticipated.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
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