,
3 tweets,
1 min read
Read on Twitter
1/n I have dealt with NAS, DoS data for 50 yrs; we've never done window dressing. Quality of data on informal economy has always been weak as all GDP data experts know(nothing hidden). Creating a back series is completely different kettle of fish (China has never produced 1)..2/
2/n Creation of back series is inherently difficult bcs rebasing always uses latest available data, often the data is not available for the earlier period. For 50 yrs nobody has even INVESTIGATED how the back series was made. We will now need a better historical perspective.. 3/
3/n GDP (2011-12 base) data on which suspicion was raised, was investigated by RBI, World Bank & IMF statistical departments and cleared by all of them, after investigation. The quality of this series is better, bcs it uses more, better data than was available in 2004-5 series..4
