October 23, 2015

Nobel Prize Winner Angus Deaton Says There Are Discrepancies in India’s Economic Data

Something I suspected for some time as the reported GDP figures are not showing up at the ground level.

When India’s statisticians revised their economic output figures earlier this year, they vaulted the country to the top of the global growth leagues – and also prompted some to wonder about the soundness of their numbers.
Angus Deaton, who won this year’s Nobel Prize for economics, in part for his work measuring the poverty rate in India, says he hasn’t followed details of the latest changes in how India tallies its gross domestic product. But he said questions about Indian data are nothing new.
In an interview with news channel NDTV, he pointed to what he said were “very serious discrepancies” between numbers collected to calculate GDP and the information collected by the National Sample Survey on household spending and consumption.

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