The finance minister hit back at Congress criticism and stressed that the revision of GDP is a conventional exercise carried out by a credible institution like the CSO.
Sudipto Mundle was the economist behind first back-series GDP report that showed higher growth during UPA. He says CSO will just have to explain new numbers.
Chief Statistician Pravin Srivastava along with Niti Aayog Vice-Chairman Rajiv Kumar said variation was due to recalibration of data in certain sectors of the economy.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
SBI does not need to worry unduly about official statistics, which are proving to be as capricious as England’s weather. It has a wealth of data about its own business record to date, amounts advanced and recovered to different sectors, profitability, write offs, the rise and decline of different sectors of the economy, the changing proportions of corporate and retail loans in its portfolio. For a while, when the world did not trust Chinese government statistics, they learnt to assess the state of its economy based on metrics that were hard to fudge, like growth of electricity consumption.
SBI does not need to worry unduly about official statistics, which are proving to be as capricious as England’s weather. It has a wealth of data about its own business record to date, amounts advanced and recovered to different sectors, profitability, write offs, the rise and decline of different sectors of the economy, the changing proportions of corporate and retail loans in its portfolio. For a while, when the world did not trust Chinese government statistics, they learnt to assess the state of its economy based on metrics that were hard to fudge, like growth of electricity consumption.