Team Blitz India
NEW DELHI: Former chief economic adviser Arvind Subramanian said that India’s latest GDP numbers are absolutely mystifying and difficult to comprehend.
India’s economy grew by better-than-expected 8.4 per cent in the final three months of 2023 – the fastest pace in one-and-half years.
“I want to be honest with you that the latest GDP numbers, I just simply cannot understand them.I say that with genuine respect and things. They are absolutely mystifying. They don’t add up. I don’t know what they mean,” Subramanian said.
Elaborating further, Subramanian said while the implied inflation in these numbers is 1 to 1.5 per cent, actual inflation in the economy is somewhere between 3 and 5 per cent.
“The economy is growing at seven and a half per cent, even though private consumption is at 3 per cent,” he pointed out.