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GDP Data Faulty? NSSO Says 36% Firms in MCA Database ‘Not Found’

guduraju

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guduraju

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A government agency report has cast fresh doubts on India's economic growth figures, in a blow to Prime Minister Narendra Modi as he seeks re-election in ongoing polls. Data compiled by India's National Sample Survey Office (NSSO) found that there were significant gaps in how the growth figures of Asia's third-largest economy are calculated. Reacting on this, former Finance Minister P Chidambaram said "It is now in the public domain that the MCA data is full of holes. NSSO has found that 36% of the companies in the MCA-21 data base are bogus companies. The growth figures are a sham and what the government has done is a scam."

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