Ghosh wrote that if anybody “actually desires to check present nominal GDP numbers over the earlier unrevised base of the primary quarter of final yr” the determine to have in mind is ₹88.3 lakh crore towards ₹80.4 lakh crore, which might really give a progress price of 9.7 per cent. He mentioned even with this nominal progress, actual progress can be 7.4 per cent.
He mentioned comparisons should be made on the identical base and utilizing the identical methodology. With out naming Garg, he mentioned that the two.6 per cent quantity is “neither the official actual progress price nor a like-for-like comparability”.
“It’s a hybrid comparability between a current-year stage of the new-series with an old-series previous-year stage. Which will make for a dramatic speaking level, but it surely doesn’t present a significant progress price for a actuality examine,” he wrote, including that in one other state of affairs the numbers may very well be revised upwards as a substitute of downwards too.
Ghosh mentioned the Ministry of Statistics and Programme Implementation (MoSPI) revises the earlier GDP estimates yearly. He argued that the “reported Q1 FY27 progress quantity doesn’t stand alone” and that the composition offers it credibility.
He cited the World Financial institution that had famous that international locations revise nationwide accounts to enhance accuracy and comparability. Ghosh wrote that bigger revisions may occur when new methodologies or a brand new reference yr are launched.
