RisingShiningSuperpower
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Angus Deaton should be banned from ever entering India again. He is obviously a member of the anti-India lobby in the West. The truth is that under Modi-ji's brilliant leadership, India will quickly surpass China to become a superpower by 2020!
Nobel Prize Winner Angus Deaton Says There Are Discrepancies in India’s Economic Data - India Real Time - WSJ
7:05 pm IST
Oct 19, 2015
Economy & Business
British-born economist Angus Deaton of Princeton University answers questions in a news conference after winning the 2015 economics Nobel Prize on the Princeton University campus in Princeton, New Jersey Oct. 12, 2015.
Dominick Reuter/Reuters
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 many 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, said there were “very serious discrepancies” between numbers collected to calculate GDP and the information collected by the National Sample Survey on household spending and consumption.
“The national accounts are showing, you know, a huge increase in the amount that people have, year, upon year, upon year, and we’re just not picking it up in the household surveys,” Mr. Deaton said. That’s “a very, very serious gap and I think not enough is being done to address that,” he said.
Mr. Deaton, a professor at Princeton, said the differences raise doubts about the accuracy of growth numbers. “I’m sure some of that growth is exaggerated,” Mr. Deaton said. “I’ve no idea how much, it might be just a point or two. It might be a lot more than that.”
“One of the things you worry about with statistics is that growth is so much a flag under which recent Indian governments have flown,” Mr. Deaton said. “They are very much tied to that measure of success. That makes it very difficult for accurate data-keeping.”
India’s government statisticians say they their new numbers bring the country’s GDP calculations in line with international practices and give a more accurate measurement of the economy.
For breaking news, features and analysis from India, follow WSJ India on Facebook.
follow @WSJIndia
Nobel Prize Winner Angus Deaton Says There Are Discrepancies in India’s Economic Data - India Real Time - WSJ
7:05 pm IST
Oct 19, 2015
Economy & Business
British-born economist Angus Deaton of Princeton University answers questions in a news conference after winning the 2015 economics Nobel Prize on the Princeton University campus in Princeton, New Jersey Oct. 12, 2015.
Dominick Reuter/Reuters
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 many 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, said there were “very serious discrepancies” between numbers collected to calculate GDP and the information collected by the National Sample Survey on household spending and consumption.
“The national accounts are showing, you know, a huge increase in the amount that people have, year, upon year, upon year, and we’re just not picking it up in the household surveys,” Mr. Deaton said. That’s “a very, very serious gap and I think not enough is being done to address that,” he said.
Mr. Deaton, a professor at Princeton, said the differences raise doubts about the accuracy of growth numbers. “I’m sure some of that growth is exaggerated,” Mr. Deaton said. “I’ve no idea how much, it might be just a point or two. It might be a lot more than that.”
“One of the things you worry about with statistics is that growth is so much a flag under which recent Indian governments have flown,” Mr. Deaton said. “They are very much tied to that measure of success. That makes it very difficult for accurate data-keeping.”
India’s government statisticians say they their new numbers bring the country’s GDP calculations in line with international practices and give a more accurate measurement of the economy.
For breaking news, features and analysis from India, follow WSJ India on Facebook.
follow @WSJIndia
