Cracking the GDP mystery: Aarati Krishnan
http://www.thehindu.com/opinion/lead/cracking-the-gdp-mystery/article17418792.ece
Excerpts:
"More accurate estimates of what really transpired in the Indian economy post-demonetization will be available when the CSO publishes its first revised GDP estimates, with more ground level data, in January 2018.
Until then critics must follow Keynes's tenet- when facts change, it is best to change your mind"
My VIEW:
Politicization of economics
Apropos Aarati Krishnan’s article “Cracking the GDP
mystery” (The Hindu, March 7), one has to admit that unbiased analysis of facts and events
has become a rarity in the Indian media and articles like this gives the
comfort that so long as The Hindu survives, balanced views will have some space
to get published.
This lament is in the context of the polarization
of not only politicians and their parties, but economists, analysts and media
groups into pro-Government and Opposition teams, an unhealthy trend of the
current century India which has crossed tolerance levels post-November 8, 2016.
The criticism unleashed last week
when CSO released some GDP-related figures last week was hasty and hazy. This
article proves that with all blames statistics and therefore statisticians are
made to shoulder, while interpretations can differ, figures won’t lie and are
verifiable. Of course, in India, commensurate with the delay in various other
sectors, accurate and final CSO figures also come out only after their “Use
before” date!
M G Warrier,
Mumbai
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