There has been intense focus on India’s growth performance of late. First, on the occasion of the Delhi meetings of the G-20, the government announced that it was the world’s fastest growing major economy. It was met with a challenge from an independent economist on the grounds that the government had relied on the income method to estimate GDP, and that were the expenditure method to be used instead the observed growth rate would be lower. The Finance Ministry responded that the Government of India had been consistent in using GDP estimated by the income method throughout.
This is correct.
