We require reliable economic data for policy responses
India must update its neglected data systems so that nobody in need of state support is left out
Estimates of gross domestic product (GDP) for the first quarter (April-June) of fiscal year 2023-24 were released on 31 August. As per the estimates, GDP in this first quarter increased by 7.8% on a year-on-year basis at constant prices. This were broadly in line with expectations, but continue to raise concerns on the long-term sustainability of India’s economic growth. Compared to growth in the same quarter last year, growth slowed down in all the sectors except for agriculture and finance, real estate and professional services.