The claim of India’s GDP reaching the $4 trillion mark is bogus and fake, says Congress
1 year, 1 month ago

The claim of India’s GDP reaching the $4 trillion mark is bogus and fake, says Congress

The Hindu  

The Congress on November 20 said senior Union Ministers from poll-bound States like Rajasthan and Telangana shared “bogus and fake news” that India’s Gross Domestic Product has crossed the four-trillion dollar mark only to generate euphoria and headline management. “Between 2:45 p.m. and 6:45 p.m. yesterday, when the nation was glued to watching the cricket match, various drumbeaters of the Modi government, including senior Union Ministers from Rajasthan and Telangana, the Deputy Chief Minister of Maharashtra, as well as the Prime Minister’s most favoured businessman, tweeted that yesterday itself India’s GDP had crossed the $4 trillion mark,” Congress general secretary Jairam Ramesh said. An unverified screenshot from the live-tracking GDP feed for all countries, based on the International Monetary Fund’s data, was shared by several BJP leaders including Union Ministers. Though there has been no official comment from the Ministry of Finance or the government, sources claimed the news is incorrect as India’s GDP is yet to achieve the $4 trillion landmark.

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History of this topic

'News24' peddles fake news about reduction in India's GDP, deletes tweet on being exposed
3 weeks, 2 days ago

'News24' peddles fake news about reduction in India's GDP, deletes tweet on being exposed

Op India  

On Friday, the popular Indian channel ‘News24’ courted controversy after it falsely claimed that India’s total Gross Domestic Product had reduced by 5.4% in the second quarter of the year. “The second quarter witnesses downfall in country’s GDP, reduced by 5.4%,” a tweet posted by News24 read. Screengrab of the tweet by News24 The tweet by ‘News24’ suggested that India’s …

Concern over ‘unscientific projection’ of GDP rate as nation’s prime growth indicator
4 months, 3 weeks ago

Concern over ‘unscientific projection’ of GDP rate as nation’s prime growth indicator

The Hindu  

A talk on ‘Tall claims and bleak realities - features of the contemporary Indian economy’ by Kerala State Planning Board member R. Ramkumar on July 26 expressed concern over the unscientific projection of gross domestic product rates as the nation’s prime growth indicator when the per capita Income was continuing at a very low rate. Presenting his view points at …

Former CEA Arvind Subramanian Questions India's GDP Surge
9 months, 1 week ago

Former CEA Arvind Subramanian Questions India's GDP Surge

Deccan Chronicle  

New Delhi: Former chief economic adviser Arvind Subramanian on Friday said India's latest gross domestic product or and GDP numbers are ‘absolutely mystifying’ and difficult to comprehend. His comment comes at a time when India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 — the fastest pace in one-and-half years. Elaborating further, Mr Subramanian …

Decoding India’s economic realities: Comparing the state of the economy under the NDA and UPA governments
10 months, 1 week ago

Decoding India’s economic realities: Comparing the state of the economy under the NDA and UPA governments

The Hindu  

February 12, 2024 11:06 pm | Updated February 13, 2024 09:54 pm IST With the BJP-led government exuding over-confidence on the state of the economy, the interim Budget presented earlier this month has shifted focus to fiscal consolidation. Even then, the simple truth which is evident from the official data is that on average, real GDP growth was at least …

India’s GDP crosses $4 trillion for the first time? Sources say country still shy of that landmark
1 year, 1 month ago

India’s GDP crosses $4 trillion for the first time? Sources say country still shy of that landmark

Firstpost  

An unverified screengrab from the live tracking GDP feed for all countries based on data by International Monetary Fund has been widely shared on social media showing India crossing $4 trillion mark India’s gross domestic product, or GDP, has reportedly crossed the $4 trillion-mark in nominal terms for the first time. The rise of New India under PM Narendra Modi …

Wrong to assess economic activity on GDP alone: Finance Ministry
1 year, 3 months ago

Wrong to assess economic activity on GDP alone: Finance Ministry

The Hindu  

The Finance Ministry on September 15 scotched aspersions cast by “certain sections” on the credibility of Indian GDP data, which showed a 7.8% uptick in the first quarter of this year, stressing that Indian GDP data is not seasonally adjusted and is finalised three years later so “it is wrong to look at the underlying economic activity based on GDP …

Ashoka Mody says India's growth fake based on his personal opinion on methodology
1 year, 3 months ago

Ashoka Mody says India's growth fake based on his personal opinion on methodology

Op India  

India’s GDP growth rate for the first quarter of the current fiscal rose to 7.8%, up from 6.1% growth in the previous quarter. While most of the previous GDP growth numbers released during the Narendra Modi government have been criticised by opposition and left-liberals calling the methodology faulty, this time Princeton University’s visiting professor Ashoka Mody has gone ahead and …

The issue is not about India’s GDP, but its JDP
1 year, 4 months ago

The issue is not about India’s GDP, but its JDP

The Hindu  

Participating in the debate on the motion of no-confidence in Parliament last week, Union Finance Minister Nirmala Sitharaman waxed eloquent about India’s Gross Domestic Product growing in double digits, the Indian economy being the world’s fastest, and also highlighted glowing reports by foreign institutions such as the International Monetary Fund and Morgan Stanley. Economist-politician Subramanian Swamy too has weighed in …

What the GDP numbers say
2 years ago

What the GDP numbers say

Hindustan Times  

September quarter Gross Domestic Product numbers, which were released on November 30, are in perfect sync with the Reserve Bank of India ’s projection of 6.3%. If inflation continues to moderate — most forecasters, including RBI, believe that it will — and there is a sincere, even if gradual step towards fiscal consolidation in the forthcoming Budget, India will continue …

‘Even Pak, Afghanistan handled Covid-19 better’: Rahul Gandhi’s dig at govt over IMF’s India projections
4 years, 2 months ago

‘Even Pak, Afghanistan handled Covid-19 better’: Rahul Gandhi’s dig at govt over IMF’s India projections

Hindustan Times  

Congress leader Rahul Gandhi on Friday attacked the Bharatiya Janata Party -led National Democratic Alliance government over the International Monetary Fund’s projection of India’s gross domestic product during this fiscal year amid the coronavirus disease. Rahul Gandhi slammed the government over IMF’s GDP projection for India this fiscal year. Referring to IMF’s estimates on Tuesday, Gandhi termed it the BJP …

Covid-19 may leave 'permanent scar' on India's growth, show agency outlooks on GDP
4 years, 3 months ago

Covid-19 may leave 'permanent scar' on India's growth, show agency outlooks on GDP

India Today  

The coronavirus pandemic and the strict nationwide lockdown has resulted in economic devastation beyond comprehension in India. While Goldman Sachs projected India’s GDP for the year to contract 14.8 per cent, Fitch Ratings said it would contract 10.5 per cent. Fitch Ratings, too, sharply downgraded its projections for India’s economic growth to -10.5 per cent — double of the five …

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