On 27 February, India will shift its GDP base year to 2022-23 from 2011-12. The update could lift output estimates and signal India overtaking Japan as the fourth-largest economy.
In AICC report ‘Real State of the Economy 2026’, Congress flags ‘central contradiction’ in economy, calls for data review pointing to jobs, FDI, manufacturing slump & inequality.
The Modi govt shifted the burden of investing for growth from companies to the public sector. The share of government capital spending in GDP terms has doubled since 2014.
With the agriculture sector employing 45% of the workforce but accounting for only 15% of GDP, it confirms that two-thirds of India’s workforce engages in low-productivity work.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
India's growing at more than twice the speed of global economy, and doing better than any other large economy, but longer-term problems with country's statistical system & data base remain.
While indicators of urban demand are growing at a sharp pace, rural consumption is in slow lane. However, manufacturing, mining and construction have all seen double-digit growth.
Two articles, one by visiting Princeton prof & another by ex-CEA, question India’s GDP calculation. 'Critics latch on to anything that doesn't paint economy in good light,' says govt.
Agriculture, and financial, real estate & professional services sectors grew faster this year than last year, while most of the other sectors registered slower but robust growth.
LPG supply eased for more industries, govt says coal gasification is next growth avenue. Centre welcomes US-Iran ceasefire but asks Indians to leave Iran.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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