The economy, its math and politics
In recent days, the government has been on high alert after an ex-bureaucrat, Subhash Chandra Garg, disputed the government's growth estimates for April-June 2026. Garg, who held key roles in the Ministry of Finance, claimed that the nominal GDP growth rate was only 2.6 per cent, not the 10.3 per cent estimated by the Ministry of Statistics and Programme Implementation.
Adjusted for inflation, Garg argued that the real growth rate would be zero, not the 7.8 per cent reported by MoSPI. This sparked debate, with politicians amplifying the claims, particularly in the context of economic unrest and joblessness. However, most observers dismissed Garg's math as incorrect, noting that using different base years for comparing GDP values is flawed.
Even Rahul Gandhi, a critic of the Modi government's economic policies, chose silence on the matter, indicating that mathematically, Garg's claims could not be defended.
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.
