Data on economy , modi failed badly, India's fake GDP figures

[Rajnichitti]

Year	Growth (real) (%)
2000	3.841
2001	4.824
2002	3.804
2003	7.86
2004	7.923
2005	7.923
2006	8.061
2007	7.661
2008	3.087
2009	7.862
2010	8.498
2011	5.241
2012	5.456
2013	6.386
2014	7.41
2015	7.996
2016	8.17
2017	7.168
2018	6.982

2019 - 4.2

2020- 1.87

2021- ? ? ? ? ? ? 7.43 (projection by RBI) Generally RBI projections turns out to be wrong, it boasts but in reality it soars

Even the actual GDP figures are very low, china use to project fake numbers, western world don't trust china, similar things happening with India, world having trust decifit on India GDP numbers since 2014 , for example if it was 6.9 acc to RBI, it was actually 5 or 4.5 in reality

Supporting claims

https://www.google.com/url?sa=t&source=web&rct=j&url=https://m.freepressjournal.in/article/business/modi-wants-yes-men-not-me-when-swamy-said-gdp-figures-were-actually-1. 5%

https://www.google.com/url?sa=t&source=web&rct=j&url=https://m.freepressjournal.in/article/business/gdp-growth-for-2020-21-will-be-lowest-since-1952-less-than-2-subramanian-swamy-on-coronavirus-lockdown

Feku completely faking it

FILE PHOTO: Job seekers fill up forms as others line up for registration during a job fair in Chinchwad, India February 7, 2019.

REUTERS/DANISH SIDDIQUI/FILE PHOTO

(Reuters) - Economists and investors are increasingly showing that they have little or no confidence in India's official economic data – presenting whoever is elected as the next prime minister with an immediate problem.

There have been questions for many years about whether Indian government statistics were telling the full story but two recent controversies over revisions and delays of crucial numbers have taken those concerns to new heights.

The government itself has admitted there are deficiencies in its data collection.

 

study conducted by a division of the statistics ministry in the 12 months ending June 2017 found that as much as 36 percent of the companies in the database used in India's GDP calculations could not be traced or were wrongly classified.

But the ministry said there was no impact on GDP estimates as due care was taken to adjust corporate filings at the aggregate level.

Last December, the government held back the release of jobs data but an official report leaked to an Indian newspaper showed the unemployment rate had touched its highest level in 45 years.

Economists and investors are now voting with their feet – by using alternative sources of data and in some cases creating their own benchmarks to measure the Indian economy.

Ten economists and analysts at banks, think-tanks and foreign funds interviewed by Reuters said they were moving to use alternative data sources, or at least official data of a different kind.

Among the numbers they prefer are fast-moving indicators like car sales, air and rail cargo levels, purchasing managers' index data, and proprietary indices created by the institutions themselves to track the economy

Many economists said they were stunned when the government upwardly revised GDP growth for 2016/17 to 8.2 percent from 6.7 percent, although the demonetization of high value notes hit businesses and jobs in that financial year.

"Our response has been to spend time developing an Indian Activity Index, which takes a range of time series data that in the past were strongly correlated with real GDP growth and extract the common signal from them," said Jeremy Lawson, chief economist at Aberdeen Standard Investments, which manages more than $700 billion in assets.

The preliminary evidence from the index, which includes components like car sales, air cargo and purchasing managers' index data suggests the government has over-estimated GDP growth, he said.

"Our index would suggest that there was stable growth, rather than the rapid acceleration suggested by the GDP figures," he said, referring to three years of data from 2014.

IDLE CAPACITY

Some investors have been burned by believing in India's high growth story.

Private power producers invested billions of dollars based on expectations of electricity demand that didn't pan out in the rural economy. With economic growth pegged at over 8 percent a year, they had expected a pick up in demand by small businesses and household.

Many of the power producers are now facing bankruptcy and legal disputes as many of the new plants they built are working at about 60 percent of capacity.

In the real estate sector, developers said, it could take 3-4 years to clear about 500,000 unsold flats in and around New Delhi that were built on the assumption of higher income jobs in urban areas.

Reality check : @Mirzapur_kattappa 

[Rajnichitti]

Since 2017-18 economy is in bad shape  👎

[jawaani_jaaneman]

2011 nundi slow down avutune vundannamata...

[Rajnichitti]

1 minute ago, jawaani_jaaneman said:

2011 nundi slow down avutune vundannamata...

Yeah that's why UPA 2 was defeated badly from 2010 bad period started for UPA, corruption scandals, price rise, unemployment, law and order in Delhi etc etc

[jawaani_jaaneman]

2 minutes ago, Rajnichitti said:

Yeah that's why UPA 2 was defeated badly from 2010 bad period started for UPA, corruption scandals, price rise, unemployment, law and order in Delhi etc etc

ok so economy ni oka 6-7% ki restore chesthe okay na ?

[Ayodhyaramayyaips]

16 minutes ago, Rajnichitti said:

Year	Growth (real) (%)
2000	3.841
2001	4.824
2002	3.804
2003	7.86
2004	7.923
2005	7.923
2006	8.061
2007	7.661
2008	3.087
2009	7.862
2010	8.498
2011	5.241
2012	5.456
2013	6.386
2014	7.41
2015	7.996
2016	8.17
2017	7.168
2018	6.982

2019 - 4.2

2020- 1.87

2021- ? ? ? ? ? ? 7.43 (projection by RBI) many times RBI projections turns out to be wrong, it boasts but in reality it soars

Even the actual GDP figures are very low, china use to project fake numbers, western world don't trust china, similar things happening with India, world having trust decifit on India GDP numbers since 2014 , for example if it was 6.9 acc to RBI, it was actually 5 or 4.5 in reality

Feku completely faking it

Kottandra eedini ...anti national spotted...

[Rajnichitti]

19 minutes ago, jawaani_jaaneman said:

ok so economy ni oka 6-7% ki restore chesthe okay na ?

Anything less than 7.5 is a sin committed by bodi and dumb finance minister nirmala,feku faking numbers, so we can take out exaggerated percentage and can say India is growing at 5.5 or 6 if it really achieve 7.5 this year

https://www.google.com/url?sa=t&source=web&rct=j&url=https://indianexpress.com/article/explained/is-india-misrepresenting-misreading-its-gdp-growth-rate-

[Rajnichitti]

Calling db bhakts @Birsa @ZoomNaidu @Mirage @Spartan and pseudo economist @NiranjanGaaru who boasts about yogi and UP model

[Rajnichitti]

P. C. Mohanan, former acting chairman of the national oversight body for statistics, who resigned to protest government interference over the release of the jobs figures and back series data on GDP, said the government hasn't allocated the resources it needs to measure activity given the growth in the economy.

 

Gita Gopinath, the International Monetary Fund’s chief economist, told an Indian TV channel last month the IMF had raised the issue of "transparency" with Indian officials in data collection and, in particular, measurement of the GDP deflator - the adjusted inflation rate used to estimate real GDP.

 

In a statement, the statistics ministry said it was working to address the issue.

 

A senior official earlier said they were open to suggestions for improvement, just not "politically motivated" criticism.

 

There are already plans to revamp data compilation and capture the nuanced relationship between prices and real GDP, he said.

[jawaani_jaaneman]

24 minutes ago, Rajnichitti said:

Anything less than 7.5 is a sin committed by bodi and dumb finance minister nirmala,feku faking numbers, so we can take out exaggerated percentage and can say India is growing at 5.5 or 6 if it really achieve 7.5 this year

https://www.google.com/url?sa=t&source=web&rct=j&url=https://indianexpress.com/article/explained/is-india-misrepresenting-misreading-its-gdp-growth-rate-

Hehe.

chill kaka...Indian economy mida chala hopes petukunaru.

Indian economy best case scenario is 5-6% growth. It’s not easy to add billions at this stage like we did when we were less than trillion. 
 

5 year average growth 5-6% is what we need...spikes and lows valla inka ekkuva suffer avutunnam. 

[Ryzen_renoir]

48 minutes ago, Rajnichitti said:

Since 2017-18 economy is in bad shape  👎

Demonitisation , every bastard that supported it is to be blamed . 

Now second time they have mismanaged covid crisis and crashed the economy. 

Most states are putting out comically inflated GSDP numbers that even RBI calls them fake since 2015 .

[BeerBob123]

Before 2014 CBN ani start cheyyi 

[Ayodhyaramayyaips]

1 hour ago, Ryzen_renoir said:

Demonitisation , every bastard that supported it is to be blamed . 

Now second time they have mismanaged covid crisis and crashed the economy. 

Most states are putting out comically inflated GSDP numbers that even RBI calls them fake since 2015 .

Ayyo ala anakudadhu ba...endhukantey " this is india and ikkada itlaney jaruguthadhi and no one should qochenn these covidiots endhukantey idhi crisis time kadha...malla emanna antey " she will die " ani brahmi dialogues kodtharu kadha"...koddhi sepu aagithey ah gummadi kayala dongalu ikkada kuda bhujalu thadumunkuntaru...

[jawaani_jaaneman]

Ayyo...crisis time kada..

Modi ni resign cheyamante, economy recover aipotadi le

Adi thappa inkemanna ante...Mother sister vuntaru kada tittanika

[r2d2]