When the Indian government announced that the country’s GDP had grown to 7.9 percent versus a revised 7.2 percent in December 2015, a lot of eyebrows were raised on its authenticity.
The chief statistician, TCA Ananth, had later confirmed that the methodology of GDP computation was flawed and needed improvement.
Vice Hamid Ansari had too expressed similar views.
Now, the central government has faced its biggest embarrassment on its so-called GDP growth story from none other than Subramanian Swamy, the BJP’s Rajya Sabha MP.
Taking to Twitter, Swamy wrote, “If I apply Samuelson-Swamy Theory of Index Numbers to India’s GDP calculation or RBI interests rates, media will scream anti party activity!”
If I apply Samuelson-Swamy Theory of Index Numbers to India's GDP calculation or RBI interests rates, media will scream anti party activity!
— Subramanian Swamy (@Swamy39) July 1, 2016
Both Prime Minister Narendra Modi and Finance Minister, Arun Jaitley, have used the GDP numbers to highlight the so-called development narrative to public at large. Swamy’s criticism will, no doubt, those claims.