NEW DELHI: Chief Economic Adviser K Subramanian Thursday seemed to rubbish his predecessor Arvind Subramanian claim of India overestimating its growth rate, saying that it is very hard to create a narrative which is different from the truth. Former CEA Arvind Subramanian in his research paper last month mentioned that India's growth rate between 2011-12 and 2016-17 was overestimated. He argued that methodological changes in calculating GDP had led to overestimating GDP growth by at least 2.5 per cent per year between 2011-12 and 2016-17. The CAD, which is the net of foreign exchange inflows and outflows, had stood at USD 48.7 billion in 2017-18. Subramanian said it is important to note that when investment goes up unemployment comes down due to the virtuous cycle that kicks in.

Source: Mint July 04, 2019 13:30 UTC