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Govt defends methodology to measure GDP after Ex-CEA Arvind Subramanian says growth overstated

R Sinduja

News Editor

Former chief economic adviser Arvind Subramanian has found that India may not be the fastest growing economy between 2011-12 & 2016-17 as its GDP was overstated by 2.5% points per year. He found that the actual annual GDP growth rate may have been about 4.5%, below the official estimates of 7%. However, the government quickly disagreed with the findings saying Subramanian's GDP estimate is based on analysis of indicators.