The IMF is not convinced with India's new improved GDP data. Team to soon examine validity of data
The
IMF's Director for Asia and Pacific Department Changyong Rhee said the change in the methodology was a "welcome move by India" and this was in line with what the multilateral lending institution had suggested. However, a delegation will be sent to India "to discuss and understand the implementation of this methodology", said Rhee.
Earlier this year, India changed the way it measures its GDP or economic output and revised its economic growth estimates accordingly. Besides change in the base year, the revised national accounts series incorporates numerous conceptual and methodological improvements to make it more consistent with international best practices.
However, the revised data have been termed as "puzzling" by a number of experts and policymakers alike while the Reserve Bank of India (RBI) had also sought clarity from the government on the new methodology and the revised figures.
The upward revision to GDP figures has also been questioned by
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