India already corrected that discrepancy by applying retrospective double deflator for 2011-23 and reduced its GDP by 3.5% earlier this year.
So I don't know what are you harping about ? India Happy. IMF Happy ,but You and some other Jurnos with agenda not Happy.
Sorry for the delay in this detailed reply. I had to look up the links
“‘India Happy, IMF Happy’ rather skips over quite a lot of history.
This issue didn't begin with the latest IMF report.
1. Indian media were questioning the credibility of GDP figures years ago. NDTV ran “GDP Data: Credible Or Exaggerated?” in March 2017, explicitly reporting the controversy over the 7% growth figure. NDTV — GDP Data: Credible Or Exaggerated?
2. In 2019, an NSSO technical report found that 36% of units in the MCA-21 database used in GDP calculations were either not identifiable or not traceable in the field. NDTV reported the finding at the time. The Finance Ministry disputed the inference that this necessarily meant major GDP overestimation and said any overestimation was likely marginal — which is precisely why the issue was contested rather than simply settled. NDTV — GDP Numbers ‘Overestimated’? NDTV — Finance Ministry response
3. The IMF has been raising methodological issues for years. Its 2023 India assessment said the 2011/12 base year was outdated, identified weaknesses in the deflation method, noted that WPI was being used as a deflator for many activities, and highlighted major discrepancies between GDP measured by activity and by expenditure. IMF — India 2023 Article IV
4. By 2025 the IMF was considerably more explicit. It identified three principal problems with India's national accounts: the outdated base year, the method used for volume estimates, and discrepancies between production- and expenditure-side GDP. It noted that single deflation accounted for around 70% of GVA over 2011/12–2022/23 and explained why this can over- or underestimate real GDP. IMF — India Article IV / Real Sector Statistics
5. And then India changed the system. In February 2026, MoSPI replaced the 2011/12 GDP series with a new series based on 2022/23, incorporating methodological changes, additional administrative data, improved estimation granularity and double deflation in agriculture and manufacturing. MoSPI explicitly says that single deflation has now been completely eliminated from the new series. MoSPI — New GDP Series, 2022/23 Base
MoSPI's own FAQ explains why the base year is revised: to reflect structural changes in the economy and incorporate improved data and methods. It also acknowledges that the new series changes previously released estimates because the calculation method, indicators and inflation adjustments have changed. MoSPI — GDP methodology FAQ
So my ‘basic mathematics’ comment was obviously a sarcastic poke. The substantive issue is not whether Indian statisticians can operate a calculator. It's whether the methodology used to turn economic activity into the headline GDP figure was sufficiently robust.
That question has been raised by Indian media, Indian statistical bodies and the IMF over a period of years — and India has subsequently undertaken a major methodological revision.
I have the links to the above, if you require the references but I'm sure being capable Indians, you know all this anyway.
www.businesstoday.in
