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N.K. Singh Rejects GDP Manipulation Claims, Defends Revised Methodology
India changed how it measures the size and growth of its economy.
Former Finance Secretary Subhash Chandra Garg questioned whether the calculations were reliable.
N.K. Singh said claims that the numbers were manipulated were completely baseless.
He explained that countries regularly update their methods when new data and types of economic activity appear.
Singh said the new method includes more information and more parts of the economy.
The latest estimate showed India’s economy growing by 7.8 percent.
He also said India regained an ‘A’ credit rating after 38 years.
Singh viewed the growth figure and rating upgrade as signs of a strong and resilient economy.
Former Finance Commission chairman N.K. Singh called GDP manipulation allegations “completely baseless.”
Singh defended changing the GDP base year and updating calculation methods as standard international practices.
He said the revised methodology uses more data and covers a broader range of economic activity.
Former Finance Secretary Subhash Chandra Garg had raised concerns about India’s GDP calculations.
Singh linked 7.8% GDP growth and India’s return to an ‘A’ rating with economic strength and resilience.
- Who
- Former Finance Commission chairman N.K. Singh responded to concerns raised by former Finance Secretary Subhash Chandra Garg.
- What
- Singh rejected allegations of GDP manipulation and defended India’s revised GDP calculation methodology.
- Where
- New Delhi, India.
- When
- Singh made the comments on Thursday; he said India returned to an ‘A’ rating in 2026.
- Why
- Singh said changing the base year and methodology helps GDP data reflect new information, economic activity, and structural changes more accurately.
Critics of the GDP Methodology
Defenders of the GDP Methodology
Reliability of GDP calculations
Critics of the GDP Methodology
Subhash Chandra Garg raised concerns about the methodology used to calculate India’s GDP growth.
Defenders of the GDP Methodology
N.K. Singh rejected the concerns and called allegations of government manipulation “completely baseless.”
Changing the base year
Critics of the GDP Methodology
Critics questioned the government’s changes to the GDP calculation process.
Defenders of the GDP Methodology
Singh said periodic changes to the base year and methodology are standard practices intended to reflect economic changes more accurately.
Interpretation of the latest figures
Critics of the GDP Methodology
The criticism suggests that the revised GDP figures and methodology should be examined critically.
Defenders of the GDP Methodology
Singh said the 7.8% growth estimate and the credit-rating upgrade together reflected India’s underlying strength and resilience.
Key facts
- GDP growth estimate
- India’s economy was estimated to have grown by 7.8% under the revised methodology.
- Credit rating
- Singh said India regained an ‘A’ sovereign credit rating after 38 years.
- Rating history
- India held an ‘A’ rating in 1988, lost it in 1991, and returned to the category in 2026, according to Singh.
- Methodology revisions
- Singh said countries periodically change GDP base years and calculation methods as new data becomes available.
- Expanded coverage
- He said the revised approach captures more data and a wider range of economic segments.
- Criticism
- Former Finance Secretary Subhash Chandra Garg raised concerns about the methodology used to calculate GDP.
Quotes
N.K. Singh
Former Finance Commission chairman and president of the Institute of Economic Growth
“Such revisions are intended to capture changes in the structure and performance of the economy more accurately.”
freepressjournal.in
thehansindia.com
“As far as I know, the allegation being made against the government is completely baseless.”
freepressjournal.in
thehansindia.com
Sources
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