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Centre clarifies after ex-Chief Economic Adviser Arvind Subramanian says growth was 'overestimated'
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New Delhi, June 12 -- As former Chief Economic Adviser Arvind Subramanian suggested that India's growth figures are overestimated, the Centre on Tuesday clarified that the country's economic growth are based on "accepted procedures, methodologies and available data".
"With any Base Revision, as new and more regular data sources become available, it is important to note that a comparison of the old and new series are not amenable to simplistic macro-econometric modelling," the government said in a statement.
"The GDP estimates released by the Ministry are based on accepted procedures, methodologies and available data and objectively measure the contribution of various sectors in the economy," read the statement.
The statement said that ...
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