The CPM on Sunday accused the government of “inflating” the growth rate by using “dubious” data and said that changing data-series would just help manage global headlines, not the fundamentals of the economy. According to party general secretary Sitaram Yechury, the growth rate comes down to 5.2 per cent when calculated on the basis of the older basic points.
“We have again heard the PM and the Finance Minister speak about how well the economy is doing and its shining prospects. But nothing will move till public investment is increased in the economy. Changing data-series may help manage global headlines for a while, but won’t help fundamentals,” Yechury said.
In a Facebook post, Yechury wrote: “On the basis of highly dubious data-series, our GDP growth rate has been inflated. Many commentators and economists continue to point out the deeply flawed statistical basis of such data projections.”