Government Fooling People on GDP Data: Chidambaram

He said the BJP-led government is leaving behind only problems.

“We have to address every single aspect of the economy – growth, fiscal stability, sluggish imports and exports, rising Current Account Deficit, fall in investments, fall in consumption expenditure and steep decline in agricultural growth and services sector growth,” he said.

The Congress leader alleged that the political leadership had interfered in an area which was normally beyond limits.

“You don’t interfere with the CSO’s working. The political leadership has virtually captured or intimidated the CSO and NSSO. You saw two of the only remaining officers resign. So, it is entirely the blame that has to be laid at the door of the political leadership, whose approach has been to capture and intimidate institutions,” he said.

He said howsoever much Prime Minister Narendra Modi wants to take away the narrative from the economy, ultimately, people will vote on the state of the economy.

Doubts about veracity of the new series of GDP launched in 2015 have resurfaced after a new National Sample Survey Office (NSSO) report showed that around 39 per cent of companies in the MCA-21 database, used for GDP calculation, could not be traced or surveyed.

“Out of the 39 per cent out-of-survey units in MCA, 21 per cent were found to be out of coverage and another 12 per cent were non-traceable (which in number is nearly 4,000 units),” said the report.

These companies were described as “active” companies by the Ministry of Corporate Affairs.

This revelation casts further shadow on the new series of GDP data, which had showed significant drop in the growth estimate for the UPA administration.

The usage of MCA-21 data was started with the new series in 2015, instead of the previous data taken from the Reserve Bank of India. Several statistians and economists have raised concerns over the accuracy of the data since its inception.

Despite the release, observers warn against reading too much into prospects for greater press freedom in the beleaguered democracy, which began a troubled transition from military rule in 2010.

“The pardon will not change the conditions that journalists (in Myanmar) are facing,” said activist Cheery Zahau.