GENERAL2 Sept 2026
MoSPI Rejects GDP Data Manipulation Claims, Explains Constant-Price Method
Former Finance Secretary Subhash Chandra Garg claimed GDP was revised down from Rs 86 lakh crore to Rs 80 lakh crore to inflate Q1 2026-27 growth. MoSPI Secretary Saurabh Garg rejected this, stating year-on-year growth is measured at constant prices, excluding inflation. Old data series was replaced. Auto, cement, steel posted strong volume growth.
Key Statutory Highlights
- Former Finance Secretary Subhash Chandra Garg alleged GDP was revised from Rs 86 lakh crore to Rs 80 lakh crore, claiming it inflated Q1 2026-27 growth.
- MoSPI Secretary Saurabh Garg said year-on-year growth must be compared at constant prices, excluding inflation.
- The ministry switched from outdated old-series data to new-series figures, with auto, cement and steel growing 12%, 14% and 16%.
Actionable Advice for Taxpayers / Founders:Business owners tracking India's economy should assess GDP growth using official constant-price data rather than current-price figures, and check sectoral output trends before drawing conclusions.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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