In Defense Of India's New GDP Numbers

[Ryuzaki]

Modi will revise India's GDP as many times as necessary to catch up to China.

ulta chor kotwaal ko dante

 

[ito]

Every Indian family is a millionaire (almost)
10 lakh is the minimum value of assets owned by an average Indian rural family. Urban households are much more asset-rich, finds a government survey.

Read more at: 10 lakh is the minimum value of assets owned by an average Indian rural family. Urban households are much more asset-rich, finds a government survey. : NATION - India Today

Having come from a village, I can vouch for this. Most village folks may not have cash in hand, but have land. Now with the prices of land touching the sky most are worth easily 10 lahks

 

[Sugarcane]

Every Indian family is a millionaire (almost)
10 lakh is the minimum value of assets owned by an average Indian rural family. Urban households are much more asset-rich, finds a government survey.

Read more at: 10 lakh is the minimum value of assets owned by an average Indian rural family. Urban households are much more asset-rich, finds a government survey. : NATION - India Today

So Rahul Baba was right when he said that "poverty is sate of mind."


@ Topic: India should adjust calculation method every year to surpass China.

 

[Chanakya's_Chant]

So Rahul Baba was right when he said that "poverty is sate of mind."


@ Topic: India should adjust calculation method every year to surpass China.

Indeed, In fact sending out an official report full of typos would also work - at least for some time if not much!

Govt says 3.3% GDP growth given to IMF was a ‘typo’ – The Express Tribune

 

[Sugarcane]

Indeed, In fact sending out an official report full of typos would also work - at least for some time if not much!

Govt says 3.3% GDP growth given to IMF was a ‘typo’ – The Express Tribune

So, Manmohan's govt. was doing well except the typists. What are chances that new figures are not "typo"?

 

[BigDaddyWatch]

All government GDP numbers around the world are made up. Just give the Indians theirs.

 

[Chanakya's_Chant]

So, Manmohan's govt. was doing well except the typists. What are chances that new figures are not "typo"?

That report is about the incumbent Pakistani Government's report sent to IMF last year.

Ishaq Dar’s embarrassing ‘Typo’ - Viewpointonline

Manmohan Singh was a fine economist - India's average economic growth rose to 7.7 per cent in the 10-year regime of the UPA government (2004-14) as compared to 6.2 per cent recorded in the previous decade (1994-2004).

 

[Sugarcane]

That report is about the incumbent Pakistani Government's report sent to IMF last year.

Ishaq Dar’s embarrassing ‘Typo’ - Viewpointonline

Ishaq Dar was in hurry to get $$$, so he did mistake. But what's problem with Indian calculation every now and than

 

[Chanakya's_Chant]

Ishaq Dar was in hurry to get $$$, so he did mistake. But what's problem with Indian calculation every now and than

Periodic revisions are common practice around the world. The UK and Nigeria both saw their GDP jump after changing the way they measure national output, for example.

China revised it's GDP by some $380 Billion last year - http://www.ft.com/intl/cms/s/0/b569efb6-8736-11e4-8a51-00144feabdc0.html

In India GDP data for a fiscal undergoes three rounds of revisions; the process takes three years. The good thing till date there hasn't been any case of "overestimation" of IIP or any other key indicator.

 

[Sugarcane]

Periodic revisions are common practice around the world. The UK and Nigeria both saw their GDP jump after changing the way they measure national output, for example.

China revised it's GDP by some 380 Billion last year - http://www.ft.com/intl/cms/s/0/b569efb6-8736-11e4-8a51-00144feabdc0.html

In India GDP data for a fiscal undergoes three rounds of revisions; the process takes three years. The good thing till date there hasn't been any case of "overestimation" of IIP or any other key indicator.

Our officials needs to learn this method of upward revisions in 3 phases from India.

 

[Chanakya's_Chant]

Our officials needs to learn this method of upward revisions in 3 phases from India.

And certainly India needs to learn from China in this concern.

 

[SpArK]

So Rahul Baba was right when he said that "poverty is sate of mind."


@ Topic: India should adjust calculation method every year to surpass China.

Its not an everyday affair. If you have read it properly, it is not made to "compare" with anybody as "you" or anybody imagine.

But again the above point is not valid as you wont be agreeing to that and want to believe otherwise. So you can use your imagination and creativity over the adjusted GDP numbers and draw your own conclusions, which would seem to be better for what you were originally assuming/ed.

 

[Sugarcane]

Its not an everyday affair. If you have read it properly, it is not made to "compare" with anybody as "you" or anybody imagine.

But again the above point is not valid as you wont be agreeing to that and want to believe otherwise. So you can use your imagination and creativity over the adjusted GDP numbers and draw your own conclusions, which would seem to be better for what you were originally assuming/ed.

1. The second line had nothing to do with your post as i clearly mentioned "@ Topic" with it.

2. When your creativity stuns experts than how you think i will not be mesmerized with this art.

 

[SpArK]

1. The second line had nothing to do with your post as i clearly mentioned "@ Topic" with it.

2. When your creativity stuns experts than how you think i will not be mesmerized with this art.

You were saying India should adjust its GDP every year to compare with China and my reply is all about it.

Point 1 : Its not an every year affair.
Point 2: Its not adjusted to compare with anybody, when it was adjusted it just happened.
Point 3: I am not sure whether you agree or want to believe the above 2 points and you are free to believe it or not.


I can make it simpler in the next post when you quote this one.

 

[Sugarcane]

You were saying India should adjust its GDP every year to compare with China and my reply is all about it.

Point 1 : Its not an every year affair.
Point 2: Its not adjusted to compare with anybody, when it was adjusted it just happened.
Point 3: I am not sure whether you agree or want to believe the above 2 points and you are free to believe it or not.


I can make it simpler in the next post when you quote this one.

2011-12 GDP growth revised up - The Hindu
Catching the dragon - India’s economy is now growing faster than China's