'Blind trust in private agency': EAC-PM rejects Subramanian's GDP claims

In a research paper, Subramanian, who stepped down last year, said India's economic growth rate had been overestimated by around 2.5 percentage points between 2011-12 and 2016-17

The Economic Advisory Council to the Prime Minister (EAC-PM) on Wednesday rejected the claims of former CEA Arvind Subramanian regarding over-estimation of GDP growth after 2011, saying his analysis ignores data on services and agriculture and shows blind trust in a private firm CMIE.

A paper released by EAC-PM said India's GDP estimation methodology stands at par with its global standing as a major and responsible economy. Primary contributors of the paper are economists Bibek Debroy, Rathin Roy, Surjit Bhalla, Charan Singh, Arvind Virmani.

Last week, the advisory body had said it would issue a point-to-point rebuttal of the Subramanian's