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India’s GDP calculation methodology sparks debate

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By NewsGram Staff Writer

New Delhi: As India adopted a new way of calculating its gross domestic product (GDP) six months ago, the data is in controversy with many people questioning it. There is a debate going on whether or not these numbers be taken on its face value.

Photo credit: tibetanreview.com
Photo credit: tibetanreview.com

However, Finance Minister Arun Jaitley seems to welcome the debate, adding that the government has no role in this matter.

He said at The Economist magazine’s annual conference, “The manner in which the CSO (Central Statistics Office) functions is autonomous and independent of the government… they work at arm’s length from the government, while the models they employ are all internationally compatible.”

India’s new series of GDP figures continue to be wrapped up in controversy, over six months after its release.

Questions pertaining to the new estimates of India’s national income have been raised by several critics. Raghuram Rajan, Governor of Reserve Bank of India (RBI) has stated publicly that it is difficult to take the new GDP numbers at face value and that he needs to study them further.

A committee headed by National Statistical Commission Chief, Pronab Sen, has been set up to examine the estimation methodology. He has however been a vocal supporter of the new series. “In the meanwhile, let both the exercise as well as the debate continue, which is always welcome in democracy,” the minister said.

The Indian economy grew by seven percent in the first quarter of this fiscal, showing signs of slowing vis-a-vis the 7.5 percent expansion in the quarter before. But the growth was much higher than 6.7 percent registered in the first quarter of the last fiscal.

The new number seem quite contradictory when compared with other economic indicators such as the revenue growth of listed firms and bank credit growth, the Index of Industrial Production (IIP), as well as real ground level challenges for companies such as weak demand, high debt and low earnings.

with inputs from IANS

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India PC Market Shrinks 8% in Q1, HP Sells Most

Dell Inc retained the second position with a 25.9 per cent market share with a YoY growth of 2.2 per cent

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HP India
HP unveils 65-inch gaming display with soundbar at CES 2019. Flickr

With a market share of 28.1 per cent in the first quarter of 2019, HP Inc maintained its leadership position in the Indian personal computing (PC) market, which shrunk for the third straight quarter, the International Data Corporation (IDC) said on Thursday.

The market witnessed a year-on-year (YoY) drop of 8.3 per cent with shipments reaching 2.15 million units in the first quarter of 2019, said the report.

Despite maintaining its leadership position in the market, HP Inc saw a 9.7 per cent YoY decline, mainly due to consumer segment that shrunk 21.3 per cent over the first quarter of last year.

Dell Inc retained the second position with a 25.9 per cent market share with a YoY growth of 2.2 per cent and a quarter-on-quarter (QoQ) growth of 26.7 per cent.

HP
HP. (IANS)

Lenovo remained at third position with a market share of 25.2 per cent in Q1 of 2019 in India traditional PC market, observing a 6.2 per cent YoY growth and a 29.2 per cent sequential growth.

The India PC market remained weak outside big commercial deals due to weak consumer demand, high inventory from previous quarters and supply issues for Intel chips, IDC said.

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The notebook category contributing 61.4 per cent of the India PC market shipments witnessed a 9.8 per cent YoY decline. Within notebooks, ultra-slim category, with a 25.3 per cent share of the market, grew 86.5 per cent.

“Spending towards ultra-slim notebooks is increasing due to factors like improved mobility due to thinness of the product and enhanced aesthetics,” Bharath Shenoy, Market Analyst, PCs, IDC India, said in a statement. (IANS)