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Jun 12, 2019

PM's economic advisory council refutes claim by former CEA on GDP estimates

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The Economic Advisory Council to the Prime Minister will have a detailed examination of the GDP estimates made by former Chief Economic Advisor Arvind Subramanian. It will come out with a point-to-point rebuttal in due course. An official release issued in New Delhi today says, any attempt to sensationalise what should be a proper academic debate is not desirable from the viewpoint of preserving the independence and quality of India’s statistical systems the former CEA is familiar with.
It said, these are issues that Dr. Subramanian should have raised while he was the CEA. It points out that by his own admission he has taken time to understand India’s growth numbers and is still unsure. Using cross-country regressions to estimate GDP is a most unusual exercise, says the press release.

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