NEW DELHI (Reuters) - India has sharply revised its GDP data to show a much worse economic performance than originally thought in the aftermath of the global financial crisis, putting renewed scrutiny on the reliability of government data.
The Central Statistics Office (CSO) has revised GDP growth to 3.5 percent from earlier estimates of 5.9 percent in the fourth quarter of 2008/09. On the flip side, it also showed the fourth quarter growth estimate for 2009/10 was better than first thought - 11.2 percent rather than 9.4 percent.
Questions over the reliability of Indian data are not new. Economists have previously challenged the accuracy of other indicators such as industrial production and exports. Faulty data makes it potentially trickier for policymakers to take decisions on matters like interest rates. Full story
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