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IMF Endorses India's Updated GDP Methodology As Welcome Development
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News18•15-10-2026, 11:45
IMF Endorses India's Updated GDP Methodology As Welcome Development
- •The International Monetary Fund praised India's updated GDP calculation methodology, stating it aligns with best practices and IMF advice.
- •Krishna Srinivasan, Director of the IMF's Asia and Pacific Department, recognized the strong work done by MOSPI in improving GDP statistics.
- •The IMF noted that India faced the global energy shock with strong economic fundamentals and responded effectively.
- •Pressure on India's exchange rate is driven by global factors and does not indicate an economic failure or disconnect with growth.
- •Chief Economic Advisor V Anantha Nageshwaran previously dismissed criticism of the GDP data, defending the new March 2023 base year methodology.
Key Questions Answered
The International Monetary Fund described India's updated GDP calculation methodology and base revision as a welcome development that aligns completely with best practices and the IMF's statistical advice.
A political row emerged after former Finance Secretary S C Garg contested the 7.8 per cent June quarter GDP figures, claiming the data was artificially boosted by compressing the previous year's figures, which opposition parties used to question data integrity.
The IMF stated that pressure on India's exchange rate is a function of global interest rates, investor risk appetite, and oil prices, and should not be read as a sign of economic failure or a disconnect with growth.
