"The discrepancies have been very large for the quarter, but that doesn't matter, because there is a more accurate way of calculating GDP in the new series," Barua said at an webinar on ETMarkets.com on the topic: "GDP growth at 7.6%: Fudged growth or we are really growing? So to reconcile it with the production method figures, you have a discrepancy component," said Barua. So the CSO largely depends on the production and expenditure methods.Out of the two, the CSO considers the value-added method to be more accurate, while it has also reconciled with the expenditure method. "The veteran economist insisted that the effect of the so-called discrepancies on the GDP is nothing. "The expenditure side of GDP is difficult to gauge every quarter.

Source: Economic Times June 10, 2016 10:54 UTC