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GDP figures to go up further: EA Secy
Refuting charges of destroying the credibility of Indian data, the government said the revised GDP figures for demonetisation year was not cooked up and, in fact, the growth rates are likely to go up further due to the GSTIts not cooked up at all Its data driven and real Nobody has manipulated it
New Delhi: Refuting charges of destroying the credibility of Indian data, the government said the revised GDP figures for demonetisation year was not cooked up and, in fact, the growth rates are likely to go up further due to the GST."It's not cooked up at all. Its data driven and real. Nobody has manipulated it.
It's possible that sometimes anecdotally it may appear to be an un-understandable kind of result because of the quirkiness in data which takes place on account of abnormal events like demonetisation," Economic Affairs Secretary Subhash Chandra Garg told IANS.On January 31, the government revised the Gross Domestic Product (GDP) growth rates by 110 basis points from 7.1 per cent to 8.2 per cent for 2016-17, the year of demonetisation, and by 50 basis points from 6.7 per cent to 7.2 per cent for fiscal 2017-18.
Garg said the growth was reflected mainly in two sectors, construction and financial services, and was absent in sectors like manufacturing and mining when the figures were revised. This was primarily because demonetisation helped the two sectors directly.
