Lagatar24 Desk
New Delhi: Union Commerce and Industry Minister Piyush Goyal on Wednesday criticised opposition leaders and former officials questioning India’s 7.8 percent GDP growth figure for the April-June 2026 quarter, accusing them of comparing an old data series with a new one and describing them as having little else to do but appear on television panels.
Goyal Alleges Data Series Confusion Among Critics
Speaking at the annual session of the Automotive Component Manufacturers Association (ACMA) in Delhi, Goyal said several opposition leaders and even former senior officials, including a former finance secretary and a former RBI governor, both of whom he noted did not complete their tenures, were misguiding the public by comparing growth figures from an old data series against a new one where the base year itself had changed.
Former RBI Governor and Ex-Finance Secretary Had Questioned Figures
Former RBI governor Raghuram Rajan had earlier questioned whether the growth numbers were genuine, expressing concern over certain discrepancies and asking why faster growth wasn’t translating into more jobs or greater investment. Similarly, Subhash Chandra Garg, who served as finance secretary from March to July 2019, argued that the headline figure rested on a revised base, noting that last year’s current-price GDP had been revised down from Rs 86 lakh crore to Rs 80 lakh crore, and that without this revision, current-price growth would have stood at just 2.6 percent.
Goyal Defends Government Data, Credits PM Modi
Responding to questions on employment, Goyal dismissed critics as unable to accept that they themselves had little productive work left besides appearing on television to construct arguments against the government. Defending the data’s integrity, he asserted that ministers do not manufacture GDP figures and that attempts to distort the truth ultimately betray the public. He credited the growth rate to Prime Minister Narendra Modi’s leadership and the collective effort of the country’s population, describing it as an achievement unmatched by any other nation.
Congress Calls It a ‘Greatly Distorted Picture’ of the Economy
Congress general secretary Jairam Ramesh countered that the figures represented a “Greatly Distorted Picture” of the economy, stating that public relations efforts could polish the perception of GDP but not the underlying economic reality.
Ministry Issues Rebuttal Over Base Year Comparison
The Ministry of Statistics and Programme Implementation had released the first-quarter data on Monday, putting growth at 7.8 percent, above the RBI’s forecast of 7 percent, a figure PM Modi described as a “herculean feat.” On Wednesday, the ministry issued a six-point rebuttal, without directly naming Garg, clarifying that the Rs 86.05 lakh crore figure belonged to the old 2011-12 base-year series and could not be directly compared with the new 2022-23 series, adding that it would be incorrect to interpret the difference as a deliberate downward revision aimed at inflating the current year’s growth rate.
