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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