Two ways to look at GDP

The debate over the validity of India’s new growth estimates refuses to die. Its detractors point to the disconnect between GDP and other macro indicators. But others caution against snap judgments.

India gdp, national statistical commission, gdp growth during upa regime, India GDP modi govt, Niti Aayog, indian economy, gdp report, India GDP explained, Indian express — Revising base years, improving methodologies and opting for better databases are part of normal practice in national income accounting.

In January 2015, India’s Central Statistics Office (CSO) introduced a new series of National Account Statistics. The new series made several changes. In particular, it revised the base year from 2004-05 to 2011-12. It also employed a new methodology to estimate India’s gross domestic product (GDP) and used new data sets to arrive at the GDP. However, even though the CSO’s changes were in line with international norms of national income accounting, some academics and researchers raised doubts about the new GDP estimates.