- Wealth PMS
In two press releases India’s GDP data has changed substantially, all the way back to 2009.
1. September 2011 GDP (Press Release on 30 Nov 2011)
2. December 2011 GDP (Press Release on 29 Feb 2012)
(Click for larger image)
I’ve only highlighted three columns. None of the figures match, for past data, for any quarter.
Everything has been revised. Up, down, left, right. For example, Gross Fixed Capital Formation, for the quarter ended June 2009, has been revised up by 22,000 crores (or nearly 5%) in the last three months. What is going on here?
Also, note: Q2 GDP – which was initially shown as 20.85 lakh crore (in nominal terms) is now down to 20.35 lakh crores. That revision is okay because it’s recent and we can expect some revisions here and there. But to revise data of nearly three years ago, by such big values, every three months?
I have complained about the Great Indian Data Suckage before. And this is another one. It pretty much starts from here.