India’s latest GDP revisions: How, and why, does GDP data get updated?
India's GDP numbers undergo frequent revisions, often sparking debate and questions. The main reason for these revisions is the shift from a single deflation method to a double deflation method for calculating real GDP. Single deflation adjusts both input and output prices using the same inflation rate, while double deflation uses separate inflation rates for inputs and outputs, providing a more accurate measure of real GDP growth.
This change was implemented in the December 2022 GDP series, after feedback that single deflation was leading to errors in real growth estimation.
Written by urgent.news from The Indian Express's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
