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Former Chief Economic Adviser to the Government of India, Arvind Subramanian authored an opinion piece in the indian Express yesterday that caused some ripples. He essentially said that because of changes in methodology, India has been overestimating GDP growth since 2011-2012. So while official estimates say that India’s annual growth rate has been 7%, the actual numbers are somewhere closer to 4.5%. Has our economy been growing slower than we thought? Are there any problems with Subramanian’s observations? Why is this a non-partisan issue? Ishan Bakshi, who writes on the economy and is a part of the Indian Express editorial team, explains.
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