India slips to seventh largest economy. WB
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ARMalik
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Just a reminder on how fake indian economy is - here are two links. However, there are literally dozens and dozens of news on this Fake country, with fake GDP data. Shameless creatures.
1. https://www.reuters.com/article/us-...conomists-create-own-benchmarks-idUSKCN1SF0L6
India's incredulous data: Economists create own benchmarks
NEW DELHI (Reuters) - Economists and investors are increasingly showing that they have little or no confidence in India’s official economic data – presenting whoever is elected as the next prime minister with an immediate problem.
There have been questions for many years about whether Indian government statistics were telling the full story but two recent controversies over revisions and delays of crucial numbers have taken those concerns to new heights.
The government itself has admitted there are deficiencies in its data collection.
A study conducted by a division of the statistics ministry in the 12 months ending June 2017 found that as much as 36 percent of the companies in the database used in India’s GDP calculations could not be traced or were wrongly classified.
But the ministry said there was no impact on GDP estimates as due care was taken to adjust corporate filings at the aggregate level.
Last December, the government held back the release of jobs data but an official report leaked to an Indian newspaper showed the unemployment rate had touched its highest level in 45 years.
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2- https://www.ft.com/content/d0a91172-7150-11e9-bf5c-6eeb837566c5
Government agency reveals new gaps in India GDP data
Unusual criticism adds to suspicions that Modi is trying to spin country’s statistics
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.
https://www.ft.com/content/d0a91172-7150-11e9-bf5c-6eeb837566c5
A database used by India’s statistics office to calculate GDP figures is riddled with gaps, according to a report by another government agency, raising fresh questions about the credibility of the country’s economic data. In a report published on its website, the government’s National Sample Survey Office said 39 per cent of the companies included in a key database used to estimate India’s economy activity and GDP growth were closed, untraceable or misclassified.
1. https://www.reuters.com/article/us-...conomists-create-own-benchmarks-idUSKCN1SF0L6
India's incredulous data: Economists create own benchmarks
NEW DELHI (Reuters) - Economists and investors are increasingly showing that they have little or no confidence in India’s official economic data – presenting whoever is elected as the next prime minister with an immediate problem.
There have been questions for many years about whether Indian government statistics were telling the full story but two recent controversies over revisions and delays of crucial numbers have taken those concerns to new heights.
The government itself has admitted there are deficiencies in its data collection.
A study conducted by a division of the statistics ministry in the 12 months ending June 2017 found that as much as 36 percent of the companies in the database used in India’s GDP calculations could not be traced or were wrongly classified.
But the ministry said there was no impact on GDP estimates as due care was taken to adjust corporate filings at the aggregate level.
Last December, the government held back the release of jobs data but an official report leaked to an Indian newspaper showed the unemployment rate had touched its highest level in 45 years.
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2- https://www.ft.com/content/d0a91172-7150-11e9-bf5c-6eeb837566c5
Government agency reveals new gaps in India GDP data
Unusual criticism adds to suspicions that Modi is trying to spin country’s statistics
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.
https://www.ft.com/content/d0a91172-7150-11e9-bf5c-6eeb837566c5
A database used by India’s statistics office to calculate GDP figures is riddled with gaps, according to a report by another government agency, raising fresh questions about the credibility of the country’s economic data. In a report published on its website, the government’s National Sample Survey Office said 39 per cent of the companies included in a key database used to estimate India’s economy activity and GDP growth were closed, untraceable or misclassified.
8888888888888
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Wow how did that happen, I though India's economy can only go up.
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