India needs to diagnose what's wrong with its GDP measurement system

GDP data is a critical input; we need a more capable system of measurement

Has Indian GDP been overestimated from 2012 onwards? This is ordinarily an obscure debate of interest to a tiny set of economists. If GDP were mismeasured, this may change the thinking of global portfolio managers, but apart from that, nothing much seems to be at stake. But GDP measurement drives macro policy, and numerical values of GDP directly go into fiscal planning. When GDP is overestimated, it puts pressure on tax collection and in the government borrowing programme.

In the tiny community of economists, there is an even smaller group of people who have an interest in economic measurement. That