Skip to main content

India's GDP grew at higher pace under Manmohan Singh than Modi, Vajpayee: Central govt report

A recently-released Report of the Committee on Real Sector Statistics, published by the Ministry of Statistics and Programme Implementation, Government busted the myth that the rate of economic growth under Prime Minister Narendra Modi has been higher than the earlier two terms of the UPA government headed by Manmohan Singh.
The report has made available Gross Value Product (GDP) data 1993-94 onwards, calculated on the basis of the new series, implemented in January 2015, which show, according to expert calculations, that India's GDP annually grew on an average at 8.34% and 7.67% under Singh's two terms as Prime Minister, in 2004-05 to 2008-09 and 2009-10 to 2013-14, respectively.
The calculations further show that under the two phases when the BJP-led governments -- under AB Vajpayee and Modi -- the average growth rate was 5.73% per annum (1998-99 to 2003-04) and 7.34% (2014-15 to 2017-18).
Average annual growth rate
The new series calculated GDP at 2011-12 prices, and till the publication of this report, there was no way one could make reasonable comparisons between different phases of government rule. "Given this, economic growth (as measured by GDP growth) could only be measured from 2012-2013 onwards", says Vivek Kaul in an email alert of his diary published by the Equitymaster Agora Research.
"In simple terms, there was no data available which would allow us to calculate GDP growth for the pre-2012-2013 period. If I were to put it slightly more dramatically, suddenly India had no economic history, at least in data terms", he adds.

Report withdrawn

In a surprise move, the Government of India withdrew from its website the report which had sought to bust the myth that the rate of economic growth under Prime Minister Narendra Modi has been higher than the earlier two terms of the UPA government headed by Manmohan Singh.
The report was published on the ministry’s website on July 25, but became controversial after its contents began being known over the last three days. It triggered a war of words between the ruling BJP and the opposition Congress, after which the ministry issued a statement saying that this was “not an official estimate.”
The report, prepared by a government-backed panel under economist Sudipto Mundle, concluded that India grew at a record 10.8 per cent in 2010-11 when Dr Manmohan Singh was prime minister. It compared growth rates between the old series, 2004-05, and the new series based on 2011-12 prices. Government sources and independent economists said the report, which became public just ahead of the 2019 elections, could become a cause for concern for Prime Minister Narendra Modi and his party.

Comments

TRENDING

World Hijab Day? Ex-Muslim women observe Feb 1 as No Hijab Day, insist: 'Put it on a Man'

I didn't know that there could ever be a thing as World Hijab Day until I received an email alert from Maryam Namazie of the Council of Ex-Muslims of Britain (CEMB), stating that several ex-Muslim women's groups had observed the same day—February 1—as No Hijab Day! According to Namazie, the day "was created on February 1 as a direct response to World Hijab Day" to "illuminate the coercive and oppressive realities of the hijab as a pillar of sex apartheid and a war on women."

Google powered AI refuses to correct grammar of a 'balanced' piece on Trump sending chained immigrants to India!

This is a continuation of my blog on how, while the start-up-developed AI app DeepSeek is being criticized for consistently rejecting content related to China or Maoism, there appears to be no mention in Western media about why another app, developed by the powerful Google, Gemini, remains silent on Indian political issues.  

Gujarat a police state? How top High Court advocate stunned a senior-most journalist

Rajdeep Sardesai, Anand Yagnik This is a continuation of my earlier blog on well-known journalist Rajdeep Sardesai's lecture in memory of the late Achyut Yagnik at the Ahmedabad Management Association (AMA). I was a little surprised when I received the intimation about the venue for the lecture.

5% poor in India? Union govt claim debunked, '26.4% of population below poverty line'

A recent paper, referring to the Household Consumption Expenditure Survey (HCES) 2022-23 of the Government of India (GoI), has debunked the official claim that poverty has substantially declined. Titled "Poverty in India: The Rangarajan Method and the 2022–23 Household Consumption Expenditure Survey", the paper —authored by scholars CA Sethu, LT Abhinav Surya, and CA Ruthu—states that "more than a quarter of India’s population falls below the poverty line."

Why predictions of an imminent collapse of the Russian economy may be wrong

A veteran Canadian journalist, settled in Russia, stated in a Facebook post that President Donald Trump "is apparently listening to experts who tell him that Russia's economy is on the verge of 'imploding,' and if he just squeezes a bit harder," his Russian counterpart Vladimir Putin "will fall into line."

Talking of increased corporate control over news, Rajdeep Sardesai 'evades' alternative media

When I received an intimation that well-known journalist Rajdeep Sardesai was to speak at the Ahmedabad Management Association (AMA) on February 2, my instant reaction was: I know what he is going to say—his views are quite well known; he wouldn’t be saying anything new. Yet, I decided to go and listen to him to catch his mood at a time when the media, as he (and I) knew it, is changing fast due to the availability of new technological tools that were not accessible even a decade ago.

Why burn Manusmriti? Why not preserve it to demonstrate, display historicity of casteism?

In a significant Facebook post, Rana Singh, former associate professor of English at Patna University, has revealed something that few seem to know. Titled "The Shudras in Manusmriti", Singh says,  because Manusmriti is discussed so often, he thought of reading it himself. “This book likely dates back to the 2nd or 3rd century BCE, and the presence of contradictory statements suggests that it is not the work of a single author,” he says in his Facebook post in Hindi, written in 2022 and recently reshared.

How the middle classes are returning to the BJP fold, be it Delhi or Gujarat: Mahakumbh, Sitharaman's budget

Whatever reasons may be offered for the Aam Aadmi Party's defeat in Delhi—whether it was the BJP's promises of more freebies than AAP, the shedding of ultra-nationalist slogans, or the successful demolition of Arvind Kejriwal's "Mr. Clean" image—my recent interaction with a group of middle-class individuals highlighted a notable trend. Those who had just begun to sit on the fence were now once again returning to the BJP fold.

I'm flattered: A New York media house claims I was a KGB agent! Wow, I didn't know that

I was astonished, let me say pleasantly surprised, on receiving a comment by Rich TVX News  on my blog   "Why predictions of an imminent collapse of the Russian economy may be wrong" (January 28).  I don't know who wrote the strange comment from this "media house", which is based in New York, and claims to "hold sway not only among the masses but also within global corridors of power, influencing esteemed politicians and shaping international diplomacy, especially evident during pivotal events like the ongoing crisis in Ukraine."