Rather than deflate input values by input prices, the new methodology deflated these values by output prices, which could have overstated manufacturing growth.Krishnamurthy Subramanian, the government’s current chief economic adviser, didn’t immediately respond to requests for comment. A spokesman for the Statistics Ministry also couldn’t immediately respond.The latest study throws more doubt over India’s economic statistics. "India must restore the reputational damage suffered to data generation in India across the board, from GDP to employment to government accounts,” Subramanian said. "At the same time, the entire methodology and implementation for GDP estimation must be revisited by an independent task force.”The most recent data shows India’s growth slowed to a five-year low in the first three months of the year. - Bloomberg

Source: The Star June 11, 2019 07:18 UTC