What Arvind Subramanian, Ashoka Mody don't get about quarterly GDP estimation
- Quarterly estimates should be assumed to have limited shelf life and utility.
A debate is underway, once again, on India’s GDP estimation. There are suggestions from former chief economic adviser Arvind Subramanian and Princeton University economist Ashoka Mody that there's reason to suspect the 7.8% growth reported in India’s official quarterly estimates for April-June GDP, and that on closer look, they hide the fact that the economy is not performing well. Subramanian has on multiple occasions raised doubts, including when he was in office, when he called the estimates puzzling, writing in the Economic Survey. After leaving office, he laid out his criticism in a paper.