 "Illustration by Ajay Mohanty")
Unfortunately, it is now widely accepted that we can no longer trust the Indian government’s numbers. And here I am not talking about the widely discussed “new series” calculations of gross domestic product; I am not talking about the discredited “back series” of that same GDP; and I am not even talking about the claims made about job growth using EPFO statistics, which measure formalisation of the economy. I am talking about the most fundamental macro-economic indicators: Those presented in the Budget.
In the interim Budget presented last week the numbers cannot be said to fairly reflect reality. Consider the
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