India was a pioneer in data collection some 70 years ago. It should be recalled that GDP data in the first 30- odd years was based on the consumption data collected by the NSSO. Poverty rates, and policies, were based on NSSO data.
Arvind Subramanian, in an article published by The Indian Express, said his research found that the actual annual growth rate may have been about 4.5 per cent, below the official estimates of 7 per cent.
Faltering growth puts pressure on the government and the Reserve Bank of India to take measures to boost growth. It will be difficult for the Centre to announce any fiscal stimulus or increase its spending as it is already facing a tight fiscal situation.
In new GDP back series data, average growth during UPA regime is down from previous estimates while growth during NDA is pegged higher than during UPA. Why do findings differ from one report to another?