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New GDP data not in sync with real economy; sectors grew faster under UPA

Tax buoyancy, both at the central and state level, was also greater during the term of the previous government

GDP, growth

The recent downward revision in gross domestic product (GDP) at constant prices in the years prior to 2010-11 is in divergence with the data from the real sectors.  GDP under the National Democratic Alliance (NDA) grew at an average of 7.3 per cent in the last four years, compared to the 6.7 per cent growth rate during the last nine years of the United Progressive Alliance (UPA) — calculated using the new back series data released by the Central Statistics Office on Wednesday. This, however, contrasts with the growth rate in the real sector data under the two ...