War of GDPs: Row erupts after new data slashes growth in UPA era

Turns out, the good old days of the Indian economy weren’t so good after all or, at least, not as good as they seemed to be. In what is sure to see political sparring in the days to come, the Modi government on Wednesday released a new set of GDP growth figures, relative to the new base year of 2011-12 from the old 2004-05 base. According to these figures, there has been substantial downward revision of India’s economic growth rate during the Congress-led UPA regime from 2004-05, ranging from a little over a percentage point to over two percentage points, with the highest growth in the last 14 years recorded in 2010-11, at 8.5%, down from the earlier 10.3%. while the GDP growth rate in 2011-12 was revised from 5.2% from the previous 6.6%. expansion.