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Former chief economic advisor, Arvind Subramanian, has brought back the importance of reliable data for “correct diagnosis and effective policy response” by the government.
In a recent lecture at the Indira Gandhi Institute of Development Research, Mumbai, Dr Subramanian spoke on the issue of gross domestic product (GDP) estimations based on the old and the new series. He compared some macro indicators (based on a research paper co-authored with Josh Felman, former head of the International Monetary Fund office in India) to understand the underlying growth story since the middle of the 1990s. The lecture broadly concluded that the narrative on
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