India's early slowdown in GDP growth led Western analysts to label it the weakest link in the BRICS grouping, but its subsequent economic recovery has repositioned it as a pivotal member. The shift reflects changing perceptions of India's role in the emerging market coalition.
The IMF reported that India’s real GDP grew 7.8% in the first quarter of FY27, exceeding its own forecasts. The agency praised recent improvements in data transparency and revisions to the GDP methodology despite global energy price shocks.
India's 7.8% GDP growth has triggered a political row, with a former finance secretary questioning the data methodology. The IMF, however, backed India's statistical reforms, saying new IIP and PPI series should improve GDP estimates.
India has been recording 7% plus growth in the post-pandemic years, but it is not enough to meaningfully improve the lives of the country's population. Here’s why:
SBI Ecowrap's report dismissed claims of missing funds in national accounts as unfounded fiction. It emphasized the reliability of Q1 FY27's GDP growth estimates, suggesting that revisions remain a normal statistical practice.
10866333 Sandeep Yadav
Dinakar attacks Oppn. over ‘misleading’ GDP growth claims
Japan’s JCR upgrades India’s sovereign rating to A- with a stable outlook after strong 7.8% GDP growth. Here’s what the BBB+ to A- upgrade means.
In this weekly Plain Facts compilation, we present to you data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by.
The opposition party also asked what methodology was adopted by the government to bring this revision while seeking an explanation for the reduction of ₹43 lakh crore in the estimated size of the economy.
Raghuram Rajan stated he has neither questioned nor endorsed India's GDP growth figures. He expressed confusion over the economy’s growth not leading to increased private investment, FDI, or job creation.
10862160 shipping cargo containers file photo express
Neelkanth Mishra of the World Bank defended India's 7.8% GDP growth, asserting that claims questioning its accuracy are incorrect.
Opposition parties and some experts have questioned the government's latest GDP data. Mint examines the allegations and whether there is any merit to the concerns.
In July 2019, Garg took voluntary retirement from service, a day after he was moved to the Power Ministry in a broader reshuffle just three weeks after the presentation of the Union Budget. Garg's scheduled retirement was in October 2020.
Soumya Kanti Ghosh spoke to NDTV on the GDP growth data.
India recorded 7.8% GDP growth in Q1 FY27, but former finance secretary Subhash Chandra Garg questioned whether the figure reflects the exact reality.
Commerce Minister Piyush Goyal defended the 7.8 per cent quarterly GDP growth number.
Prime Minister Narendra Modi termed the 7.8% GDP growth a "herculean feat"
