‘Ill-educated, egregiously wrong’: World Bank ED Mishra on row over GDP data
Mr. Mishra’s statement on X came amid a political row over the growth figures released by the government, which were contested by former Finance Secretary, S. C. Garg.
World Bank Executive Director Neelkanth Mishra dismissed claims that India's economy grew by 2.6% in the first quarter of the current fiscal year as "ill-educated" and "egregiously wrong." The dispute arose over government-released growth figures, which were contested by former Finance Secretary S.C. Garg. Mishra, former Chief Economist of Axis Bank, stated that the downward revision in the base was known in March and that the new series increased the credibility of real output estimates.
He highlighted robust indicators of economic activity, including strong personal vehicle dispatches, commercial vehicle growth, and tax collection growth. Mishra also noted that credit growth had surprised on the upside, despite being a low base. He explained that the improved growth estimates were due to the introduction of a new series and significant methodological advancements in February 2026.
Mishra warned that there is still slack in the economy, with weak real-wage growth, and that it may take several quarters of above-trend growth to tighten inflation pressures.
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