, 7 tweets, 4 min read Read on Twitter
The unthinkable is happening thanks to @narendramodi govt. Several economists and analysts say they're moving to use alternative data sources or at least official data of a different kind because they think India's official GDP stats now a joke. reuters.com/article/us-ind…
Because Indian GDP stats a joke, a private firm has developed an alternative index: Indian Activity Index.They found "stable" growth 2014-17 rather than rapid acceleration suggested by official Indian data. India more or less in Argentina territory now. reuters.com/article/us-ind…
Cc: @AmartyaLahiri @vdehejia .What we discussed a few months ago is happening now.
"those close to the government have said the lack of accuracy in the official data makes it much more likely authorities will miss major swings in activity. It's also a problem for investors who may be misled into thinking the economy is more robust than it really is". Scary.
"Eventually even the Argentine govt had to scrap its own stats & switch to using more credible data created by private sector", @vdehejia in Feb. Today private sector economists coming up with alternative data sources cos official Indian GDP data is a joke
"Some investors have been burned by believing in India’s high growth story. Private power producers invested billions of dollars based on expectations of electricity demand that didn’t pan out in the rural economy."They believed economy growing at 8%. 😰 reuters.com/article/us-ind…
"On Wednesday, the Sensex and Nifty fell by 1.27% and 1.2% respectively after it was reported GDP numbers are questionable and may have to be revised down". #AccheDin #Modinomics thehindubusinessline.com/markets/stock-…
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