Who is Subhash Chandra Garg, ex-Finance Secretary now criticising GDP numbers?
Subhash Chandra Garg, a former senior government official and Finance Secretary, has become embroiled in controversy following his criticism of the recent Q1 GDP growth figures released by India's Ministry of Statistics and Programme Implementation (MoSPI). The 7.8% growth figure for the April to June period was seen as better than expected, especially as India and the world grappled with the effects of the Iran War and the Strait of Hormuz crisis.
However, Garg contends that nominal GDP growth during this period should have been 2.6% and "in real terms close to 0". This criticism, which gained traction online and support from Opposition politicians, economists, and political parties, led the MoSPI to issue a six-point rebuttal defending its methods and the released data.
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