Overview
- The Ministry of Statistics and Programme Implementation released official data on Monday saying India’s economy grew 7.8% year on year in April–June, a figure hailed by Prime Minister Narendra Modi and other ministers.
- Former finance secretary Subhash Chandra Garg argued on television that comparing nominal GDP from the old and new series implies growth of about 2.6%, a claim the Congress used to allege 'statistical gymnastics'.
- MoSPI issued a formal six-point rebuttal saying cross‑series nominal comparisons are invalid, while the prime minister’s advisers and ministers publicly defended the 7.8% real‑growth estimate.
- Economists are split because the debate turns on technical issues such as the move to a 2022–23 base year, how nominal and real GDP are deflated, and the role of the statistical discrepancy in expenditure and production estimates.
- The row has sharpened political messaging and public skepticism and could affect confidence in policy; watch for MoSPI clarifications, scrutiny of consumption and jobs data, and non‑government indicators like car sales and corporate profits.