"You are calling the chief statistician of India names without even knowing basics. You are comparing apples and oranges, current year with constant prices," Siddharth Zarabi was heard saying.
A simplified breakdown of the controversy surrounding India's 7.8% Q1 GDP growth. Understand base year revisions, double deflation, and the government's official FAQ without needing a finance degree.
GDP numbers are periodically revised when better data becomes available and when the statistical system is updated. The recent exercise involved moving to a new base year of 2022-23, along with changes in data sources and estimation methods.
PM Modi also urged citizens to give a stronger push to the “Swadeshi” and “Vocal for Local” approach by reducing unnecessary spending abroad, including leisure travel and destination weddings, and avoiding gold purchases unless needed.
The Ministry of Statistics and Programme Implementation (MoSPI) has released the Provisional Estimates of the Annual Gross Domestic Product (GDP) for the financial year...