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India more pessimistic than the official GDP data

By Julie Bell,2015-10-23 09:37
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India more pessimistic than the official GDP data

    India more pessimistic than the official GDP data

    "G" index hot talk by billions of people, once again this time, it is in India.

    Indian brokerage Ambit Capital initiated to create the Indian version of "g" index to measure the Indian economy.The Indian version by folk "g" index mainly through car sales and electricity consumption, imports of capital goods to get to know India private consumption and investment demand.But the data is more than the official figures "exciting" pessimistic.

    Indian brokerage Ambit Capital analyst Ritika Mankar Mukherjee said, the new GDP statistics show that India's economic growth more than China, but it and some basic data are not consistent.Indian consumers and companies do not feel India grows so fast."From corporate executives to government officials are trying to tell you, the Indian economy is slowing, but GDP tells you is different."

    Since January, since India to launch the new GDP statistics method, economists said confused for India's real economy.A new method to calculate the GDP at market prices the main index in the calculation of GDP as a measure of economic growth, replacing to factors of production cost calculation of GDP.This change leads to nearly 50% of the GDP growth rate is higher than the old benchmark.

    After new business accounting, India as of March 31 fiscal 2014 GDP growth of 7.3%, the highest in four years, under the new benchmark 2013 annual growth rate of 6.9%.And under the old benchmark, 13 annual growth rate of around 4%.

    The following isThe world bankWebsite shows 06-14 years in China, India, the world GDP growth.

    Data figure

    New, Angus Deaton, a Nobel laureate in economics (Angus Deaton) after critics said India's GDP figures have been exaggerated, data and performance hook is difficult to guarantee the accuracy of the results.

    The Indian government's chief economic adviser, said Arvind Subramanian, who have confidence in the economy, fiscal 2015 GDP growth at around 8%.This growth is highest in the world's major countries.

    "G" index is the result of the state council premier li keqiang 2007 liaoning provincial party committee secretary of the data analysis of the local economy, mainly including electricity consumption, rail cargo volume and bank lending.

    However, prime minister li keqiang on November 23 to an article in the annals of the economist, said mentioned "g" index and economic performance of correlation coefficient has been changed.Stressed that the future will pay more attention to the employment, income and continuous improvement of the ecological

    environment.That is to say, the environmental protection such as employment, income and unit energy consumption index of joining the new China edition "g" index.

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