IMF welcomes India's efforts to modernise statistical framework
The IMF said new industrial and producer price indexes should improve India’s GDP estimates as debate continues over recent revisions.
- India remains a "key growth engine for the world," the IMF stated, citing resilience despite energy price shocks and welcoming steps to modernize macroeconomic statistics.
- On August 31, 2026, the government announced India's GDP grew 7.8% in the first quarter of the financial year 2026-27, accelerating from 6.9% in the corresponding 2025-26 quarter.
- Former Finance Secretary Saurabh Garg alleged the nominal GDP growth rate was 2.6% rather than 10.3%, claiming real growth would be zero after adjusting for 2-2.5% inflation.
- On September 1, Congress general secretary Jairam Ramesh described the figures as "statistical jugglery," arguing the official data contradicted conditions on the ground.
- IMF official Julie Kozack encouraged authorities to "further strengthen the statistical framework," noting that incorporating new industrial production and producer price index series should improve future accuracy.
32 Articles
32 Articles
India is Global Growth Engine: IMF hails 7.8% GDP & statistical tools; Opposition’s “dead economy” propoganda crumbles
New Delhi: India’s landmark 7.8 per cent real GDP growth in the first quarter of FY2026-27 has won praise from the International Monetary Fund (IMF). The global financial institution hailed that the performance of India has exceeded its own expectations and the broader forecast, which is driven by the strong service sector growth and benchmark exports. IMF Communications Department Director Julie Kozack attributed the upside surprise to stronger…
The latest remarks by the International Monetary Fund (IMF) are important amidst the ongoing debate about India's GDP growth. The IMF has described India's new economic data system as positive and said that the updated IIP and PPI series can improve GDP estimates.
Coverage Details
Bias Distribution
- 69% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
