GDP data under cloud: Govt should know that this is a crisis of credibility

Confidence in India's economy continues to be shaky - and a few more quarters of bad indicators will erode it completely

Arvind Subramanian

Arvind Subramanian

Mihir S Sharma | Bloomberg
India’s government has long claimed that the country is one of the fastest-growing large economies in the world. That boast was a crucial part of the ruling party’s message in India’s recent election campaign — that, under Prime Minister Narendra Modi, the economy was in safe hands. Competence and sincerity as an economic manager is central to the image Modi has sought to project.

Unfortunately, that claim looks increasingly unsupportable. Earlier this month, official government figures revealed that the economy had been slowing for three quarters. After months of denial, the government also admitted that unemployment is higher than it has been for four decades. Now, Arvind Subramanian, a well-regarded economist who was till last year one of Modi’s most

First Published: Jun 13 2019 | 07:30 AM IST

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