Apples and Oranges: Govt Rejects 2.6% GDP Claim, Defends 7.8% Growth
The commerce minister said critics were comparing different GDP series and said the ministry’s figures were not manufactured or deliberately revised.
- On Wednesday, Union Commerce and Industry Minister Piyush Goyal defended India's 7.8% GDP growth, accusing Opposition leaders and former officials of misguiding the public by comparing figures from different GDP series.
- The Ministry of Statistics and Programme Implementation released 7.8% growth data on Monday, surpassing the Reserve Bank of India's 7% forecast, which Prime Minister Narendra Modi hailed as a "herculean feat."
- Subhash Chandra Garg and Raghuram Rajan challenged the data by citing a revised base year; Garg claimed growth would have been only 2.6 per cent without the revision.
- Calling critics "jobless," Goyal dismissed their concerns, while the Ministry issued a six-point rebuttal stating the old 2011-12 base-year series cannot be compared with the new 2022-23 series.
- Opposition leader Ramesh described the figures as a "GDP, Greatly Distorted Picture, of the economy," while Goyal credited 140 crore people for unprecedented growth, positioning India as a global trusted partner.
28 Articles
28 Articles
Why India's Surging GDP Growth Is Raising Questions Over Methodology and Inflation Adjustments
NEW DELHI: India's unexpectedly strong economic growth has sparked a debate after an ex-bureaucrat and a former central bank chief questioned whether the expansion was overstated and the government defended its numbers.The world's fifth-biggest economy grew 7.8% in the three months through June from the same quarter last year, government data showed on Monday, beating the 7.1% forecast by analysts in a Reuters poll as an investment boom and man…
Piyush Goyal Defends GDP Numbers, Says Growth Figures Are Independently Verified, Not Government-made
Get latest articles and stories on Business at LatestLY. Union Commerce and Industry Minister Piyush Goyal on Wednesday hit back at critics questioning India's latest GDP data, asserting that the growth figures are compiled through an independent statistical process and are free of any political interference. Business News | Piyush Goyal Defends GDP Numbers, Says Growth Figures Are Independently Verified, Not Government-made.
Apples and oranges: Govt rejects 2.6% GDP claim, defends 7.8% growth
The government on Wednesday dismissed a claim that first-quarter economic growth was closer to 2.6 per cent, terming the comparison of the latest GDP estimate with a superseded data series an “apples and oranges” exercise and asserting the 7.8 per cent expansion is backed by solid output data. The response by Saurabh Garg, Secretary in the Ministry of Statistics and Programme Implementation (MoSPI), followed remarks by a former finance secretary…
'Jobless people': Piyush Goyal slams opposition, Subhash Garg's criticism of Q1 GDP growth
Union Commerce and Industry Minister Piyush Goyal on Wednesday hit out at Opposition leaders and former officials questioning India's 7.8% GDP growth figure for the April-June 2026 quarter, accusing them of comparing an old data series with a new one and describing them as "the only jobless people left". Speaking at the annual session of the Automotive Component Manufacturers Association (ACMA) in Delhi, Goyal said, "I see on TV some of the Oppo…
Coverage Details
Bias Distribution
- 60% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
