The discussion opens with Abhinandan Sekhri talking about the flood of commentary around India's quarterly GDP figures over the past two days.
Much of it, he says, is “just completely wrong” – although still a healthier public debate than recent controversies over food or language politics. He calls it a small win for Indian media, even if the conversation isn’t always well-informed.
Vivek Kaul addresses ex-finance secretary Subhash Chandra Garg's viral ‘2.5% quarterly GDP growth rate' claim, saying Garg “did what the BJP has been doing to us all these years.”
“He made a quick point, he made a simplistic point, which was wrong,” Vivek says, adding that by the time fact-checkers responded, the claim had already spread widely. He then turns to the GDP methodology shift from a 2011–12 base year to 2022–23, a recalibration meant to reflect changes in the economy's structure. He notes that private consumption, recalculated under the new method, has been revised downward by close to $1 trillion over four years – a correction he says went largely unreported by business media.
Puja Mehra builds on this, explaining that GDP estimates depend heavily on the data sources and proxies used, particularly for India’s large informal economy, which lacks reliable direct data. “GDP, you get to define what GDP is and then measure it in the way you have defined it,” she says, pushing back on the common misconception that GDP should behave like a fixed, universal measurement, “unlike weighing one kilogram of fruit”.
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Produced by Amit Pandey with production assistance from Hassan. Sound by Anil Kumar.
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